Seagulls chairman Bloom spent nearly £80m on new signings this season and expected better than another brush with relegation.
Bloom, a professional poker player, is set to splash the cash again this summer, but did not trust Hughton to spend his money wisely, or get the best out of his signings.
And his mind was made up as long ago as April 16, when Hughton’s side lost 2-0 at home to relegation rivals Cardiff City.
The Brighton boss was a dead man walking from that point on, with technical director Dan Ashworth told to find his successor.
Hughton, whose side were safe with two games to go, joined his players on a lap of honour after his side’s 4-1 defeat to champions Manchester City.
But a few hours later he was ruthlessly sacked in what Bloom later described as “one of the most difficult decisions I have had to make.”
And Hughton may even have had an inkling of what was about to happen, telling more than one person at the ground he was looking forward to “a good break.”
Hughton paid one last visit to training yesterday morning to collect his things and say his goodbyes to staff. He is not expected to be out of a job for long.
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In a statement, Bloom said Brighton’s woeful end of season run, when they won just three of their last 23 league games and none of their final nine, "put our status at significant risk".
A gambling man at heart, he did not like Hughton’s odds of avoiding a similar fate next season – or worse.
Former Newcastle and Norwich boss Hughton, 60, has now been sacked three times in his career.
He was under contract until 2021 and had guided the club to the FA Cup semi-final this season, where they lost 1-0 to Manchester City.
But with record signing Alireza Jahanbaksh and fellow new boys Florin Andone, Jurgen Locadia and Yves Bissouma all struggling at times, Bloom had seen enough.
His programme notes for the City game, in which he thanked the club’s Academy and Women’s team coaches, barely mentioned Hughton.
But they did mention the club’s “indifferent form in the second half of the season”, and that it was “a time for reflection.”
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In his statement yesterday, he said: "Chris will always be very fondly remembered by Albion staff and fans as one of our club's finest and most respected managers.”
Hughton, who joined Albion in December 2014, led the club into the Premier League for the first time in 2017 and managed a 15th-placed finish last season.