Mike Bloomberg would put his namesake financial information company into a blind trust and then sell it if he is elected president, a campaign official told NBC News on Tuesday.
If Bloomberg wins in November, he would put Bloomberg L.P. put into a blind trust “for the eventual sale,” the official said. The campaign isn’t committing to a timeline for how long it would take to sell the $10 billion business, which leaves open the possibility that it could take years.
The company has an annual revenue of around $10 billion, according to CNBC, and could be worth as much as $40 billion.
The official said Bloomberg himself would have “no involvement” in the sale because the company would already be in a blind trust.
A senior adviser to the Bloomberg campaign, Tim O’Brien, told CNN earlier Tuesday that “Mike will release his tax returns.”
“Mike Bloomberg will also sell Bloomberg L.P.,” O’Brien said. “There will be no confusion about any of his financial holdings, blurring the line between public service and personal profiteering. We will be 180 degrees away from where Donald Trump is on these issues because Donald Trump is a walking conflict of interest.”
Trump declined to put his company in a blind trust and instead handed over the reins of his namesake organization to a trust run by his two oldest sons. Trump has for years been accused of profiting off his presidency.
“If elected president, Mike will sell the company,” Bloomberg campaign national spokeswoman Galia Slayen said.
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