Michael Bloomberg's $50M Donation To Kamala Harris Is A Fraction Of His Real Estate Empire

Former New York City Mayor Michael Bloomberg, who ran for president in 2020, has re-entered the political scene with a $50 million donation to support Kamala Harris' campaign against Republican candidate Donald Trump.

Bloomberg is the latest billionaire to influence the 2024 presidential election, following Tesla founder Elon Musk, who recently donated substantially to Trump's campaign.

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According to The New York Times, with the race tightening and financial backing becoming crucial, Bloomberg's contribution reportedly came only after "months of arm-twisting from associates," including billionaire Bill Gates.

Bloomberg's $50 million donation is substantial but only a fraction of his immense fortune. Forbes estimates the Massachusetts native and majority owner of Bloomberg L.P. worth around $104 billion.

Though his 2020 White House bid reportedly cost him nearly $1 billion, it hasn't diminished his standing among America's wealthiest individuals.

Over the years, Bloomberg has built an impressive wealth portfolio that includes an array of luxury properties worldwide, from New York City to London. A 2020 review by Business Insider estimated his real estate holdings at around $100 million. If he still owns these properties, their values have likely risen even further since then.

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Upper East Side

According to The New York Times, Bloomberg purchased a 7,000-square-foot, five-story town house for $3.5 million in 1986 and later invested an additional $1.7 million in renovations.

Originally built in 1899, the Upper East Side residence near Central Park is now valued at approximately $14 million, according to Realtor.com. As mayor from 2002 to 2013, Bloomberg remained in his upscale home rather than relocate to the official mayoral residence at Gracie Mansion.

According to The New York Times, Bloomberg expanded his property in 2016 by purchasing the adjacent town house for $14 million, adding 2,200 square feet with two bedrooms and 2½ baths. Over the years, he has continued to acquire nearby units to merge them, creating a sprawling "double-wide" town house. The Wall Street Journal estimated in 2020 that the combined properties are worth more than $50 million. 

Now a Democrat, Bloomberg also owns a condo in a Trump-owned Park Avenue building that he paid $3.8 million for in 2000. According to Crain’s, the property is now valued at around $4.2 million.

He also acquired a Beaux-Arts town house on East 78th Street for $45 million in 2006 to house Bloomberg Philanthropies. More recently, Crain's reported that an entity tied to Bloomberg Philanthropies secured a $560 million deal for a 100,000-square-foot building on Madison Avenue.

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Westchester

In 2011, Bloomberg purchased a 33-acre estate in North Salem, New York and an adjoining 20-acre property. His daughter keeps horses at the property and in Wellington, Florida, where he also owns property.

Bloomberg also owns property in nearby Armonk, New York, which he bought for $375,000 in 1993. If he still owns it, it's likely worth significantly more – the area's median listing price is around $3 million, according to Realtor.com.

Hamptons

Bloomberg also owns a sprawling 22,000-square-foot Georgian mansion in Southampton, New York. Purchased in 2011 for $20 million, the historic property, known as Ballyshear, has 11 bedrooms, a pool, tennis court, equestrian facilities and a golf course.

London

Bloomberg's global real estate portfolio extends to London. He owns a $25 million mansion in the Chelsea neighborhood, previously owned by author George Eliot.

Other properties

Bloomberg owns a 14,000-square-foot equestrian estate in Wellington, Florida and a luxury condo in Vail, Colorado, which cater to his equestrian and skiing interests.

According to Vanity Fair, Bloomberg bought a waterfront property in Tucker's Town, Bermuda, in the late 1990s, tore it down and replaced it with a $10 million megamansion and pool near a golf course.

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