NPR correspondent David Folkenflik on Friday discussed his reporting on how Bloomberg killed an investigation by its reporters into the wealth of Communist Party high-ranking members, reportedly over fears of repercussions to the company in China.
“It matters because Mike Bloomberg’s fortune – he’s one of the wealthiest people on face of the earth – his billions of dollars of wealth has been built up on selling terminals, these subscriptions to these financial data terminals that stream all kinds of data and analysis … they cost $20,000 a year,” Folkenflik told Hill.TV, referring to the founder of Bloomberg.
Folkenflik said that Bloomberg was afraid that the story of the impact it would have on the company in China. It was a risk, Folkenflik explained, that the company didn’t want to take.
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