Has anyone heard Bloomberg say what he will do with his 60 billion if he wins the presidency?

[Mike 03]

9. He invented something called the Bloomberg Terminal

that was able to establish the fair price for similar bonds in real time, especially for fixed-income investment managers. This was just barely when computers were becoming available.

Later, he added equities/stocks to the computer, and breaking news that would be of importance to investment managers.

Before that, it was very hard to establish the fair value of a bond, or to find exactly the bond you were looking for.

These could fit on a desk, and Wall Street types rented the unit. Nowadays, it costs about $22,000 a year to rent a terminal. It is also in demand from news rooms and everyday bankers. Wells Fargo was the first corporation to use the Terminal en mass.

That's my lay-person understanding.

Maybe someone else could explain it better.