News Americas, NEW YORK, NY., Weds. Nov. 27, 2019: Former New York City Mayor and founder
of Bloomberg LP, billionaire Mike Bloomberg, kicked off his campaign for US
President in Norfolk, Virginia Monday, some 726 miles away from his
multi-million-dollar Caribbean mansion.
Stokes Bay in St. George’s, Bermuda is a 6,000-square-foot
estate that was purchased by Bloomberg in 1998. Soon after, Bloomberg
demolished the original home and built a $10 million mansion that includes a
mini-golf course, multiple swimming pools and a private beach, according to New
York magazine. The property is just one of several the billionaire owns across
the US and around the world.
It’s a far cry from the income levels of most Americans he
wants to represent. According to the US’ Census’ the American Community Survey (ACS), which is
the most reliable source for income data at the state and local level; the Current
Population Survey Annual Social and Economic Supplement (ASEC), which serves as
the primary source for income data at the national level; and the Survey of
Consumer Finances (SCF), which provides detailed data on household wealth, median
household income in America was $63,179 in 2018, which is not statistically
different from the median household income in 2017.
In West Virginia, where Bloomberg choose to kick off his
campaign, the median income is lower still – at an estimated $44,587. And among
blacks nationally that rate is the lowest of any ethnic group – put at an
estimated $41,361. Home ownership
rate in the US is around 64.8 percent according to latest Q3 2019 Census data,
not significantly different from the rate in the third quarter 2018 which was 64.4
Here’s a closer look at the billionaire’s Bermuda pad according to the Botelhowood Architects website.