The majority of the company has been owned by Michael Bloomberg since it was established, and he currently owns 88% of it. Bloomberg Inc., which manages Michael Bloomberg's assets, bought Merrill's remaining stake for a reported $4.43 billion in 2008. The terminals are now part of the professional services division, which brings in the majority of the company's estimated $10 billion of annual revenue.īloomberg LP bought back one-third of Merrill Lynch's stake in 1996 for $200 million. The company was renamed Bloomberg LP in 1986, and by 1991 it had 10,000 of its terminals installed on finance professionals' desks. Merrill Lynch invested $30 million in the company in 1984. IMS developed the Bloomberg Terminal system to track financial market information and calculate the price of financial instruments.

He teamed up with Thomas Secunda, Duncan MacMillan, and Charles Zegar to found Innovative Market Solutions (IMS). When Salomon Brothers was taken over by Phibro Corporation, Michael Bloomberg received a $10 million check for his partnership interest in the firm.

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