Annual Report / Bloomberg L.P.
Annual Report 2021: Bloomberg L.P.
Harnessing the Team’s Talents to Make a Transformative Impact
Founded by Mike Bloomberg in 1981, Bloomberg L.P. has become the global leader in business and financial data, news, and insights. Mike dedicates the vast majority of the company’s profits to Bloomberg Philanthropies to support work transforming lives around the world. Philanthropy has always been a core pillar of the company’s culture: Bloomberg L.P. has a longstanding and robust Corporate Philanthropy program that leverages the time and talents of employees and builds upon deep client relationships to create lasting impact in the communities where employees live and work.
Stories of Impact
Founder, Ancestors unKnown
Stories of Impact
Pantry Supervisor, Sodexo, Bloomberg L.P.
Corporate Philanthropy at Bloomberg L.P.
Impact by the Numbers
Through Corporate Philanthropy’s programs and partnerships, the company harnesses the time and talents of employee volunteers to tackle critical issues, with a focus on supporting vulnerable and under-resourced communities, promoting an inclusive global economy, expanding access to data and technology, and supporting diverse voices in the media.
Addressing the World’s Most Pressing Needs
Bloomberg Philanthropies and Bloomberg L.P. are committed to taking on pressing global challenges. In 2021, through the Corporate Philanthropy program, Bloomberg provided immediate assistance across a range of issues, with employees offering financial support, sharing pro bono expertise, and creating over 93,000 care packages for disaster relief and neighbors in need.
As the 2021 upheaval in Afghanistan displaced so many people and highlighted the challenges facing refugees globally, the company took action with partners like the International Rescue Committee. Volunteers prepared meals, ran clothing drives, and packed kits with food, hygiene items, and phone cards, along with supporting career development workshops and mentorship for refugees. Bloomberg also joined other businesses to launch a European mentoring initiative that will reach 1,200 refugee women over the next three years through the Tent Partnership for Refugees.
To advance the fight against climate change, Bloomberg employees planted more than 11,000 trees, helped create inspirational, art-based interventions, and worked to scale climate innovations from young people. The company also supported a series of partnerships with mayors to educate students and improve air quality, as well as a global, employee-led effort to take measurable, collective action toward net zero emissions.
To take on these and other challenges, Bloomberg collaborated with clients around shared philanthropic priorities. For example, as part of Citigroup’s Global Community Day, employees helped underserved communities in six cities. In Asia, Bloomberg supported the launch of the inaugural Philanthropy Asia Summit, which convened philanthropists, government officials, and clients to help build more sustainable, equitable communities.
Bloomberg Legal & Compliance Pro Bono Program
Since 2016, the Bloomberg team has provided more than 22,000 hours of pro bono legal work across over 100 unique efforts around the world, in collaboration with nonprofit partners. This work has helped members of under-resourced communities navigate issues like asylum, veteran benefits, and transgender name-change applications. In 2021, the program also provided legal advice to startups focused on sustainable technologies, mentored law and compliance students, helped navigate pandemic-related concerns, worked with artists and freelancers to strengthen their negotiation skills, and more.
Promoting an Inclusive Global Economy
Bloomberg has a legacy of helping make financial markets more transparent and accessible, and employees have continued to advance that mission through mentoring and training initiatives for students, entrepreneurs, small businesses, and nonprofit organizations.
In 2021, Bloomberg employees contributed their skills and experience to support students from underrepresented communities and help train the next generation of community, business, and finance leaders. Together, employees participated in more than 25,000 mentoring interactions across a series of programs. Bloomberg also worked to expand a national anti-racism program in the United States that engages mentors for young people and deepens their understanding of diversity, equity, and inclusion.
In addition to supporting individuals from underserved communities, Bloomberg employees also helped strengthen the organizational capabilities of nonprofit partners globally. In the United Kingdom, Bloomberg provided mentorship and support to smaller organizations aiming to strengthen their digital presence. In the United States, the company hosted an annual panel that offered guidance to nonprofit tech founders to strengthen their products and develop their social impact. Bloomberg also supported intrapreneurship and innovation awards around the world with strategic education partners focused on identifying and developing promising initiatives to address educational inequality. An additional partnership provided direction and assistance to help leaders across five continents tackle causes of structural inequality.
Bloomberg Women’s Buy-Side Network
The Bloomberg Women’s Buy-Side Network works to elevate and support women in the asset management industry and inspire the next generation of women leaders. Launched in Singapore with additional chapters in Hong Kong, India, and Japan, the network draws on Bloomberg’s deep client relationships. In addition to helping establish the network, clients act as mentors and collaborators. In 2021, the network developed new chapters and held mentoring and training sessions in Australia, Brazil, New Zealand, and the United States, supporting women from diverse backgrounds to develop the networks and knowledge for early-career success.
Supporting Diverse Voices in Media
It is critical that diverse voices have the opportunity to contribute to reporting and analysis in news and media. Through a range of programs around the world, Bloomberg is helping to train promising and mid-career journalists from all backgrounds and opening opportunities for new voices in the field.
Since 2003, Bloomberg has led business and financial journalism education programs aimed at diversifying journalism and strengthening reporting. Across 16 initiatives, the effort has reached more than 21,000 promising students, as well as mid-career journalists, in 46 countries and 100 cities. This work includes the Bloomberg Media Initiative Africa, launched in 2014 to advance financial journalism and contribute to economic development in Africa.
In 2021, as part of efforts to train the next generation of journalists, employees from 14 Bloomberg News bureaus in Europe organized online information sessions for more than 1,775 students focused on managing their online presence and countering the spread of misinformation.
Bloomberg Journalism Diversity Program
With instruction from Bloomberg journalists and experts in the field, the Journalism Diversity Program teaches students from diverse backgrounds best practices around reporting and editing focused on the economy, business, and markets. In 2021, the program hosted its largest group of students, expanding across the United States and the United Kingdom.
Expanding Access to Data and Technology
The Bloomberg team has a wealth of experience in using data and technology to solve problems and make a difference. Drawing on that expertise, the company supported students to unlock opportunity in an increasingly digital world and strengthened data use and analysis at partner organizations.
In 2021, through a variety of tailored initiatives, employees taught students from underrepresented groups coding, technical, and soft skills to help them succeed in the digital economy. Following programs in New York City and Frankfurt, employees in São Paulo launched the third annual class of Python coding training for high-achieving students from low-income backgrounds. Employees in New York and Hong Kong also organized “hackathons” to teach coding skills to students from underserved communities.
With Bloomberg Philanthropies and Bloomberg Associates, Bloomberg L.P. shared engineering and design expertise on a series of impactful projects, including continuing to support the Bloomberg Connects app for leading cultural institutions and helping Chicago create a dashboard on equity and inclusion in the city workforce.
Bloomberg Data For Good Exchange
In 2021, Bloomberg collaborated with J.P. Morgan in London to build upon the Data For Good Exchange (D4GX) initiative, with experts from both companies leading a week-long workshop series focused on helping nonprofit partners better leverage data to improve their effectiveness.
Bloomberg also launched a series of Data For Good Exchange events across India, in partnership with Dasra. The events convened more than 100 philanthropists, academics, government officials, and business leaders to discuss ways to work together to strengthen the data ecosystem for India’s development sector. This work also launched the D4GX India Empowerment Challenge to help accelerate promising early-stage innovations that serve the interests of India’s most vulnerable people.
Corporate Philanthropy program
Face the Data. Change the World.
Working with partners, Bloomberg and Bloomberg Philanthropies transform lives around the world through the power of data. Lessons from the company’s 40 years of progress and growth support the work at Bloomberg Philanthropies – along with almost all of the company’s profits.
Hear the stories of how the Bloomberg team and partners are using data to address today’s most pressing challenges.