Michael Bloomberg named for Pentagon job by Biden administration

The announcement came on Wednesday from Lloyd Austin, the Secretary of Defense, saying that Bloomberg would head up the Defense Innovation Board, an organization which "provides advice to senior defense leaders on how to fast-track innovation to meet national security threats."

According to the New York Post, "the Pentagon announcement noted Bloomberg’s 'wealth of experience' as an innovator in business, government and philanthropy."

Bloomberg accepted his nomination, stating that "innovation and adaptability are absolutely critical at any large organization, and there is no organization bigger or more complex than the Department of Defense."

He then continued his statement, saying, "With rapid advances in technology happening alongside rapidly evolving threats to our national security and the safety of our service members, our largest government agency must also be our most forward-thinking."

This new nomination comes as part of a wider effort to revamp the Pentagon's advisory system, launched by Austin in an effort to improve 36 out of the 42 advisory boards he initially suspended upon taking office.

The new Bloomberg-headed Defense Innovation board is now one of eight of the 36 previously suspended boards now cleared again to resume normal operations by Austin.