Former New York City Mayor Michael Bloomberg announced his presidential candidacy on Sunday. He unveiled a minute-long campaign video calling the billionaire, one of the world's richest men, a "middle-class kid who did good." “I'm running for president, umDonald Trumpto defeat and rebuild America,” Bloomberg said in a statement. “We cannot afford to tolerate President Trump’s reckless and unethical behavior for four more years. He poses an existential threat to our country and our values. If he wins another term, we may never be able to undo the damage.”
The new candidate Michael Bloomberg
The campaign's main goal was to balance an unusually late entry into the Democratic, intraparty primary with historic national advertising spending and an unorthodox strategy for navigating the primary calendar. Michael Bloomberg has expressed concerns that none of the leading candidates can defeat Trump. Its advertising campaign has reserved more than $30 million for television advertising for this reason. The first ad touts his performance as mayor after the Sept. 11 attacks and his work on gun control, climate change and other issues. However, under the slogan “Rebuilding America,” the ad skips the Democratic primary field in order toto focus on Trump. A picture of the president is shown with the caption: And now he's taking him in. The ad ends with the lines “Mike Bloomberg for President” and “Paid for by Bloomberg 2020.” “I’m Mike Bloomberg and I agree with this message,” he says.
Bloomberg, who spent a record $102 million ($172 per vote) in his third and final election as New York mayor in 2009, was a Democrat before being elected mayor as a Republican in 2001. However, before returning to the Democratic Party in 2018, he switched to registering as an independent. This month, the billionaire mogul set up a campaign committee at the Federal Election Commission and qualified to run in at least three states. Almost a year after Senator Elizabeth Warren's announcement, Michael Bloomberg is pursuing an unorthodox strategy. He would like to skip the first four states during the main season.
Fund your own campaign
The former mayor has announced that he will finance his campaign entirely from his own resources. That means he cannot qualify for the Democratic presidential debates under current rules. The candidates must receive at least 10,000 individual donations. That rule could be reviewed in January, the Washington Post reported. The billionaire's media company, Bloomberg News, said members of its editorial board took a leave of absence on Sunday to work on the campaign and would stop producing unsigned editorials. Bloomberg, 77, has an estimated net worth of more than $50 billion. His entry into the race was not welcomed by the current field.
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