Former New York City Mayor Michael Bloomberg will not seek the Democratic nomination for U.S. president in 2020 but will instead launch an effort aimed at combating climate change, he said on Tuesday.
A billionaire who could have sunk millions of his own dollars into a campaign, Bloomberg had publicly toyed with running and has become a vocal critic of Republican President Donald Trump. He spent millions of dollars last year helping Democrats retake control of the U.S. House of Representatives in congressional elections and has invested in advocating for sweeping gun-control laws.
Bloomberg, 77, made his 2020 announcement in an opinion piece on the site of Bloomberg News, the company he runs.
He said he was mindful of the difficulty of prevailing in the Democratic Party nominating primary process, especially given the leftward turn the party has taken in recent years.
“I believe I would defeat Donald Trump in a general election,” Bloomberg wrote. “But I am clear-eyed about the difficulty of winning the Democratic nomination in such a crowded field.”