How Michael Bloomberg Made $59 Billion With Only 325,000 Customers
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Usually, when we think of decabillionaires, we think of founders of companies who serve hundreds of millions of customers if not billions of customers around the world. In most cases, a large audience is required to accumulate such extreme amounts of wealth. Michael Bloomberg, however, has grown a net worth of $59 billion with only 325,000 annual customers. The key to Bloomberg's small customers base is large amounts of revenue and profit from each customer. Bloomberg charges $2000 per month to get access to his financial service, the Bloomberg Terminal. With 325,000 customers paying $2000 per month, Bloomberg is able to bring in $7.8 billion in revenue per year. This video explains how Michael Bloomberg was able to grow such a high-value customer base and why banks and wall street pay Bloomberg so much.
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Timestamps:
0:00 - Bloomberg’s Cash Cow
1:12 - Intro To Wall Street
4:20 - Innovative Market Systems
6:36 - Rise Of Bloomberg LP
8:16 - Conquering The Market
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Disclaimer:
This video is not a solicitation or personal financial advice. All investing involves risk. Please do your own research.
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