'I’m running for president to defeat Donald Trump and rebuild America,' Bloomberg wrote in a written statement posted on a campaign website Sunday
Billionaire and former New York City Mayor Michael Bloomberg, one of the world’s richest men, has formally launched a Democratic bid for president.
As a centrist with deep ties to Wall Street, Bloomberg is expected to struggle among the party’s energized progressive base. He became a Democrat only last year. Yet his tremendous resources and moderate profile could be appealing in a primary contest that has become, above all, a quest to find the person best-positioned to deny Trump a second term next November.
Even before the announcement was final, Democratic rivals like Bernie Sanders pounced on Bloomberg’s plans to rely on his personal fortune. Bloomberg does not speak in his announcement video, which casts him as a successful businessman who came from humble roots and ultimately “put his money where his heart is" to effect change on the top policy issues of the day — gun violence, climate change, immigration and equality, among them.
He angered many minority voters during his 12 years in the New York City mayor’s office for embracing and defending the controversial “stop-and-frisk” police strategy, despite its disproportionate impact on people of color. Facing an African-American congregation this month in Brooklyn, Bloomberg apologized and acknowledged it often led to the detention of blacks and Latinos.
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