Michael Bloomberg, a billionaire businessman and former New York City Mayor, is strongly considering the race for the US Democratic Party's presidential nomination. Bloomberg, through his adviser, expressed his concerns about the current roster of candidates, which he thinks is not good enough to defeat Donald Trump in the 2020 elections. The 77-year-old tycoon is expected to join this week's nomination for the Democratic presidential primary in Alabama.
There are 17 Democratic candidates who are competing to take on Donald Trump in the next presidential election. Among the front runners are former Vice-President Joe Biden, Massachusetts Senator Elizabeth Warren, and Vermont Senator Bernie Sanders.
Recent surveys show that Warren and Sanders are weak opponents against Trump. With 3 Republicans challenging President Trump in the Republican Party's primary contest, it remains nearly impossible to take off the Republican mantle from the 73-year-old POTUS.
The Democratic nominee for the presidential election on November 3, 2020 will be the result of a series of electoral contests across the country. Candidates, including Bloomberg, that want to get on the Democratic primary ballot must submit the necessary paperwork by Friday in Alabama. Anyhow, there are other states where he can submit his registration on a later date.
Bloomberg is a philanthropist who has donated millions of dollars to educational and medical causes among other charities that he supports. His advisers hinted that he will advocate for climate change and push gun control laws if ever he wins the US presidential post.
Bloomberg was a Wall Street banker who founded and successfully built the financial publishing empire that bears his name. He was originally a Democrat, but he became a Republican to mount a campaign for mayor of New York City back in 2001. He won the post and went on to serve 3 terms as mayor until 2012. Bloomberg rejoined the Democratic Party last year.
As a Democrat, he highlighted climate change as a huge global concern. He is also a large financial sponsor of the gun-control advocacy group called "Everytown," which he co-founded in 2014.
Bloomberg's gun safety group played a major role in Democrats' victory in the Virginia state elections this week. They outspent the gun lobby group National Rifle Association, which is based in Virginia, by funding $2.5 million into the race.
The presence of the former New York mayor and multi-billionaire would be considered a significant one. Many are expecting that his candidacy will intensify the race for the Democratic Party nomination.
This isn't the first time that Bloomberg eyed the U.S. presidency. He ruled himself out in the past because he thought a New York billionaire businessman would not be favored by majority of Americans. However, his impression no longer seems to apply today according to some analysts.
Joe Biden's campaign seems to be fading in recent developments. He is the only politician closest to Michael Bloomberg's credibility and charm. According to Forbes, Bloomberg has a declared net of $52 Billion. That means he is nearly 17 times richer than Trump who is known to be at $3.1 Billion.