Charles Zegar Biography

Charlie Zegar (born 1948) is an American billionaire and computer scientist known for being one of the four co-founders of Bloomberg L.P.

Early life and education

Zegar was born to a Jewish family, the son of Lillian, a musical comedy performer and opera singer, and Henry Zegar, a subway conductor for the New York City Transit Authority. He earned a Bachelor of Arts and Science from Long Island University and a masters degree in computer science from New York University.

Career

Zegar worked at the investment bank Salomon Brothers with Michael Bloomberg, Thomas Secunda and Duncan MacMillan. After Bloomberg - who was Solomon's the former head of equity trading and sales and then head of computer systems and data - was fired when he opposed the takeover of the company by Phibro, a metals trading company, he invited Zegar, Secunda, and Macmillan to start up their own financial data company. They accepted and together they founded Innovative Market Systems with Bloomberg putting most of the seed capital. Secunda, who was a mathematician, was responsible for gathering and inputting the data; MacMillan was responsible for sales; and Zegar wrote the software. In 1982, the got their first customer, Merrill Lynch who ordered 20 data terminals and invested $30 million in the company (receiving a 30 percent ownership interest). The company grew rapidly thereafter and presently has $7.6B in sales and over 15,000 employees. Bloomberg owns 88% of the company and the three other partners 4% each (In 2008, Bloomberg purchased back Merrill Lynch's original 30% share).

Philanthropy

Zegar is a signatory of the Giving Pledge. His Zegar Family Foundation donates to Arts, Culture, Humanities, Education, Environment, Health, Medical Research, Human Services and Religion. Zegar is on the Board of Trustees for New York University

Personal life

Zegar has been married twice. He is widowed from his first wife. He remarried in 2001 to administrative judge, Merryl Judith Snow; the service was officiated by Rabbi Joel Goor and took place at the Essex House in Manhattan.