Michael Bloomberg not running for president

Michael Bloomberg not running for president

Former New York Mayor Michael Bloomberg has announced he will not run for president in 2020.

Mr. Bloomberg came close to running for president in 2016 as an independent candidate, but ultimately concluded that only the nominee of a major party could win.

"I hope those who have urged me to run, and to stand up for the values and principles that they hold dear, will understand that my decision was guided by one question: How can I best serve the country?"

"I'm not running for president, but I am launching a new campaign: Beyond Carbon", Bloomberg wrote on Tuesday in the Bloomberg News column. But because the 2020 Democratic field is so large, there was a chance "I might never win the Democratic nomination".

"Whether we were in the same race or he is doing work as a private citizen, I know we will be allied in some sense eventually, one way or another, because he has just been so visionary on this for such a long period of time", Inslee said.

In his contemplations about joining the presidential race, Bloomberg had promised a campaign based on his record as a fiscal steward of New York City for 12 years and his philanthropic activism on issues like gun control, global warming and public health.

Bloomberg, who became a registered Democrat past year, stressed in his post that his decision not to run is not because he believes he can not defeat President Donald Trump.

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This will include "Beyond Carbon", a grassroots effort to begin moving America as quickly as possible away from oil and gas and toward a 100%-clean-energy economy.

You can read the full piece here. "All are likely to grow more severe, and numerous president's executive actions will only compound matters", Bloomberg added. It was then he announced he was rejoining the Democratic Party.

Bloomberg spent months weighing a White House run, traveling to early voting states and building a team of experienced political advisers.

It's unclear how much money Bloomberg is willing to plunge into the effort.

The former mayor, who is worth more than $50 billion from his control of a financial services empire that shares his name, made the final decision Monday morning in NY, after a months-long process of building a campaign infrastructure. "It's not who I am, nor do I think it's what voters want in a leader".

Bloomberg has argued the country needs a competent and pragmatic chief executive with his kind of business and government experience who can get big things done, drawing an explicit contrast with Trump.

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