Former New York City mayor Michael Bloomberg is officially a candidate for president. The 77-year-old philanthropist brings the largest bank account to the 2020 race. His estimated net worth is more than $50 billion.
Bloomberg announced his candidacy in a tweet and accompanying video, part of an initial $34 million ad buy. The ad calls Bloomberg the “middle class kid who made good.”
“I’m running for president to defeat Donald Trump and rebuild America,” Bloomberg said in a Sunday statement. “We cannot afford four more years of President Trump’s reckless and unethical actions. … If he wins another term in office, we may never recover from the damage.”
The first votes will be cast in less than three months. Bloomberg will pitch himself as a more moderate voice in the Democratic race.