December 19, 2016 --

With all the attention the Trump Resisting Media (TRM) has been giving to the president-elect’s so-called conflicts of interest problems, among other things, LPR is puzzled that scant attention,if any, was given to Michael R. Bloomberg’s business links when he was elected Mayor of New York City, in 2001. A New York Times article, in 2001, reported that Mr. Bloomberg’s wealth was then estimated to be $5 billion.

Notwithstanding this wealth, Mr. Bloomberg did not divest himself of his business interests – although, as LPR understands, he agreed to take a mayoral salary amounting to one dollar per annum.

Forbes estimated Mr. Bloomberg’s wealth in 20014 – after his three mayoral terms ended – to be $33 billion.

LPR calculates that, as mayor, Mr. Bloomberg’s wealth increased more than six-fold, by some $28 billion. (This year, according to a Forbes estimate, Mr. Bloomberg’s wealth is nearing $50 billion.)

Mr. Bloomberg was said to have spent hundreds of millions of dollars in his three mayoral campaigns. Whatever the expenditure was, apparently they brought in a heckuva return.

(Personal disclosure: the income of the LPR proprietor is going up in 2017 – three dollars in Social Security, each month.)