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Michael R. Bloomberg Named 2011 Horatio Alger Award Recipient
New York City Mayor to be Inducted this Spring for Overcoming Adversity

WASHINGTON, March 1, 2011 – The Horatio Alger Association of Distinguished Americans is pleased to announce that Michael R. Bloomberg, New York City Mayor and founder and owner of Bloomberg, L.P., will receive the 2011 Horatio Alger Award in recognition of his personal and professional success despite humble and challenging beginnings.

Bloomberg will be formally inducted into the association when he accepts the Horatio Alger Award on April 8, 2011, in Washington, D.C. Recipients of the award have overcome great adversity to achieve admirable accomplishments, to serve as examples of achieving the American Dream, and to offer countless hours and resources to help others in need.

“We are pleased to induct Michael R. Bloomberg into the Horatio Alger Association and pay tribute to his success in the face of hardship,” said Tony Novelly, president and CEO, Horatio Alger Association. “The 2011 members are extraordinary role models of strength, resolve and achievement and will help to continue our mission of helping young people achieve similar success.”

Michael R. Bloomberg, a grandson of immigrants, was born in 1942 in Boston, Massachusetts, where his father worked as a bookkeeper for a small dairy. Bloomberg earned a degree in electrical engineering at Johns Hopkins University in 1964. He paid his tuition by taking loans and working as a parking lot attendant during summers. Bloomberg also earned a master’s degree from Harvard Business School.

Bloomberg joined Salomon Brothers, on Wall Street, as a trading room clerk. He later transferred to the equities department and discovered he was a natural salesman. By 1972, he was a partner. Bloomberg later founded his own business, Innovative Market Systems. In 1986, his company was renamed Bloomberg L.P. Within a few years more products, including the Bloomberg Messaging Service, and the Bloomberg Newswire were launched. Today, Bloomberg L.P. has more than 275,000 subscribers to its financial news and information service in 161 countries.

In 2001, Bloomberg started as the Mayor of New York City.  In 1995, Bloomberg gave $55 million to Johns Hopkins University, his alma mater. Three years later, he gave another $45 million. His philanthropy also includes large donations to the Campaign for Tobacco-Free Kids, Centers for Disease Control and Prevention, the Johns Hopkins Bloomberg School for Public Health, and the World Lung Foundation. Bloomberg also provided a combined donation of $500 million with Bill Gates to help governments in developing countries with tobacco control. Bloomberg is the recipient of the Award for Distinguished Leadership in Global Capital Markets from the Yale School of Management. He has received The Hundred Year Association of New York’s Gold Medal in recognition of outstanding contributions to the city of New York.

Bloomberg will be honored among 11 other remarkable individuals who will receive the 2011 award for their hard work, self-reliance and perseverance:

• Roger Eugene Ailes, Chairman and CEO, FOX News and Chairman,  Fox Television Stations Group
• Anousheh Ansari, Co-Founder and CEO, Prodea Systems, Inc. and Spaceflight Participant, Russian Space Program
• Leonardo DiCaprio, Actor and Film Producer
• Frederic V. Malek, Founder and Chairman, Thayer Lodging Group
• Harry S. Patten, Founder, Chairman and CEO, National Land Partners, LLC and Inland Management
• Josue “Joe” Robles Jr., President and Chief Executive Officer, United Services Automobile Association (USAA)
• James E. “Jim” Rohr, Chairman and CEO, PNC Financial Services Group (PNC Bank)
• Glenn Stearns, Chairman and Owner, Stearns Corporation
• Byron David Trott, Managing Partner and Chief Investment Officer, BDT Capital Partners, LLC
• Rick Waugh, President, Chief Executive Officer and Director, Scotiabank (International Award Recipient–Canada)
• Herbert A. “Herbie” Wertheim, Chairman and CEO, Brain Power, Inc., Chairman, Dr. Herbert and Nicole Wertheim Family Foundation, and Founding Chairman, Herbert Wertheim College of Medicine Florida International University

In addition, the 2011 Norman Vincent Peale Award will be presented to Doré Energy Corporation President William J. Doré. The Norman Vincent Peale Award is annually conferred on an association member who has made exceptional humanitarian contributions to society, who has been an active participant in the association, and who continues to exhibit courage, tenacity and integrity in the face of great challenges. The award is named in honor of Dr. Peale, who has been an outstanding leader of the association for more than 40 years. 

The 2011 members will receive their awards at the 2011 Horatio Alger Awards Induction Ceremonies in Washington, D.C. Activities include three days of meetings and celebrations in some of the nation’s most historic buildings. The Horatio Alger National Scholars, remarkable high school seniors who have excelled despite adversity, also will be formally honored during the three-day gathering.

A complete list of all of the Horatio Alger Members can be found at http://www.horatioalger.org/members.cfm.

About The Horatio Alger Association
Founded in 1947, the Horatio Alger Association of Distinguished Americans continues to fulfill its mission of honoring the achievements of outstanding individuals in our society who have succeeded in spite of adversity and of encouraging young people to pursue their dreams through higher education. The Horatio Alger Association offers three annual scholarship programs: the National Scholarship Program, state scholarship programs, and graduate grants. The association will have awarded more than $87 million in scholarships through 2012 to at-risk students determined to earn college degrees. The association is a Combined Federal Campaign participant; # 77062. For more information, please visit www.horatioalger.org

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