Michael Bloomberg Isn’t Running for President – By Lisa Hagen (US News) / March 5 2019
The billionaire and former New York City mayor believed he could defeat Donald Trump but was concerned about his ability to emerge from a crowded Democratic field with the nomination.
Former New York City Mayor Michael Bloomberg announced Tuesday that he won’t run for the Democratic presidential nomination in 2020 and will shift his focus to combating climate change and gun violence.
Bloomberg, a political independent who re-registered as a Democrat, becomes the second billionaire to decline a run for the White House. Environmental activist Tom Steyer ruled out a run earlier this year, opting instead to focus on his efforts to drum up popular support for the impeachment of President Donald Trump.
Bloomberg has been an outspoken critic of Trump and had been touring early nominating states as he weighed a presidential bid. In an op-ed about his decision, Bloomberg was bullish about his chances to defeat Trump in a general election but raised concerns about winning the nomination in a crowded primary.
“Should I devote the next two years to talking about my ideas and record, knowing that I might never win the Democratic nomination?” Bloomberg wrote in an op-ed. “Or should I spend the next two years doubling down on the work that I am already leading and funding and that I know can produce real and beneficial results for the country, right now?
“I’ve come to realize that I’m less interested in talking than doing,” he added.
With a White House run in the rearview mirror, Bloomberg said that he’ll focus more on the “Beyond Coal” campaign and work to phase out every coal-fired power plant and replace them with clean energy alternatives.
Bloomberg has also been a vocal gun-control advocate and funds the group Everytown for Gun Safety. In the op-ed, he noted the background check measures that recently passed the Democratic-led House but are likely to stall in the GOP-controlled Senate.
Bloomberg has played an active financial role in recent campaigns, spending more than $100 million to boost Democrats in the 2018 midterm elections. He had said that if he mounted a presidential campaign, he’d spend at least that same amount and would only use his own money.
Bloomberg and Steyer’s decisions to stay out come as more 2020 Democrats denounce money in politics. Sen. Elizabeth Warren, D-Mass., has taken aim at politicians who’ve said they’ll fund their own campaigns.
Warren has pledged to not take money from super PACs and corporate political action committees as well as sworn off big-money fundraisers and events – for at least the primary campaign. A slew of other Democrats have vowed not to accept corporate PAC money.
