Mayor Bloomberg began distancing himself from the mega-media company that bears his name during his first run for City Hall in 2001. He eventually relinquished all management titles once he was elected.
But the team of managers he left behind to oversee the company – in which he still holds a 68 percent stake valued at $13 billion – are close confidants, some of whom Bloomberg had worked with since the inception of the financial-information firm in 1982.
Peter Grauer, a former Wall Streeter Bloomberg knew from their days shuttling their daughters to equestrian events, became executive chairman after the mayor’s election.
After taking office, Bloomberg insisted he would recuse himself from the firm’s day-to-day operations.
While saying he has no role in the firm’s operations, Bloomberg continues to make references to “my company” in speeches and other public comments.
Earlier this week, at a business forum, Bloomberg was talking about companies staying in the city because it’s the place to be and he said, “My company’s staying, that’s how much I believe this.”
Questions about potential conflicts of interest between Bloomberg as mayor and owner of a major New York-based firm have been raised since he was first elected. And some say he likely still has input in major business decisions.