Billionaire Michael Bloomberg won a third term as New York mayor Tuesday in a closer-than-expected race against a Democratic challenger who stoked voter resentment over the way Bloomberg changed term-limits law so he could stay in office.
With 99 percent of precincts reporting, Bloomberg, the richest man in New York and founder of the financial information company Bloomberg LP, defeated William Thompson Jr. 51 percent to 46 percent.
In the fall of 2008, Bloomberg successfully campaigned for an amendment to New York City’s term limits law, in order to allow him to run for a third term.
Bloomberg, a former Republican who ran as an independent candidate, has been a popular manager of New York’s economy and was credited with reducing crime for the last eight years.
