Michael Bloomberg announced Tuesday that he will not run for president, closing the door on months of speculation.
Bloomberg, the well-connected former mayor of New York City, has been a vocal critic of President Trump. He said that instead of putting his time into a presidential run, he will focus his energy and personal fortune into thwarting Trump and his agenda.
“I’ve never made any secret of my belief that Donald Trump is a threat to our country,” Bloomberg wrote in a column announcing his decision. “ … It’s essential that we nominate a Democrat who will be in the strongest position to defeat Donald Trump and bring our country back together.”
Bloomberg has quite a fortune to put toward that goal. He was reportedly prepared to spend well over the $100 million he infused into his last campaign for mayor.
“I’m fortunate enough to be in a position to devote the resources needed to bring people together and make a big difference,” Bloomberg said Tuesday.
Bloomberg is viewed as more moderate in contrast to the other Democratic candidates who have thrown their hats into the ring. Despite being largely pro-business, the former mayor aligns with Democrats on social issues.
In his announcement, Bloomberg cited “climate change, gun violence, the opioid crisis, failing public schools, and college affordability” as the major challenges facing the country.
Bloomberg also took a shot at the “Green New Deal,” an idea championed by another New Yorker, freshman Rep. Alexandria Ocasio-Cortez, D-N.Y. But he said he still wants to focus on moving away from oil and gas “as quickly as possible.”
“The idea of a Green New Deal — first suggested by the columnist Tom Friedman more than a decade ago — stands no chance of passage in the Senate over the next two years. But Mother Nature does not wait on our political calendar, and neither can we,” he said.
Bloomberg’s departure opens up a lane for other moderate Democrats. Former Colorado Gov. John Hickenlooper announced he was running for president on Monday and many expect former Vice President Joe Biden to join the race.
