Michael Bloomberg, 77, the former mayor of New York City, has announced that he will not be entering as a candidate in the 2020 presidential election.
There were rumors circulating that Bloomberg would consider a run as a Democrat, after making a statement that an Independent run would not be successful in the upcoming election in January—a bid he had considered in the past. His name came up in both 2008 and 2016 was a potential independent candidate.
Instead of running, Bloomberg will focus on expanding his campaign, Beyond Coal, which has already closed more than half of America’s coal plants, and launch a new campaign, Beyond Carbon—moving America towards a 100 percent clean energy economy. In addition, he said he will support other candidates who he believes can provide the proper leadership for the country.
“I’ve come to realize that I’m less interested in talking than doing,” he said in the statement. “And I have concluded that, for now, the best way for me to help our country is by rolling up my sleeves and continuing to get work done.”
He emphasized the same point in a tweet, announcing his decision.
While there would be no higher honor than serving as president, my highest obligation as a citizen is to help the country the best way I can, right now. That’s what I’ll do, including the launch of a new effort called Beyond Carbon. My full statement: https://t.co/b3cQUF1PhU
— Mike Bloomberg (@MikeBloomberg) March 5, 2019
The billionaire, with a net worth valued at $55.6 billion, according to Forbes, said he spent more than $100 million supporting Democrats during the midterm elections in a reaction to his opinion that Republicans in Congress had failed and continue to fail to hold President Donald Trump accountable.
Now, in the presidential race, he said it is essential to nominate a Democrat, one in the “strongest position” to beat Trump and unify the nation.
“I will continue supporting candidates who can provide the leadership we need — on climate change, gun violence, education, health, voting rights, and other critical issues — and continue holding their feet to the fire to deliver what they promise,” he said in the statement.
Bloomberg, is fortunate enough, he said in the statement, to be able to provide resources needed to bring people together to make a big difference through 2021 and beyond, outside of Washington.
Twitter buzzed after Bloomberg’s released his statement. On Twitter, many figures such as Bradley Tusk, the founder and CEO of Tusk Ventures, said that given the current political climate the billionaire businessman made the correct decision to not pursue the presidency.
While @MikeBloomberg made the right choice in not running, it’s too bad we have a system so partisan and so polarized that someone like him can’t compete. He is the finest person I have ever worked with or for.
— Bradley Tusk (@bradleytusk) March 5, 2019
Howard Schultz, former Starbucks Chairman and CEO and current presidential candidate, made a similar point:
.@MikeBloomberg governed from the center with big ideas, pragmatism and common sense. In an era of paralysis and dysfunction, he’s an exception. I’ve long said there isn’t room for centrist moderation in either party and it appears Mr. Bloomberg has come to the same conclusion.
— Howard Schultz (@HowardSchultz) March 5, 2019
And others, like Cecile Richards, former president of Planned Parenthood, and Neera Tanden, president of the Center for American Progress thanked Bloomberg for his efforts and commitment to specific issues:
Thank you to @MikeBloomberg who has always stood up for important issues – from women’s rights to gun safety to protecting our environment. Proud to fight alongside you, today and tomorrow.
— Cecile Richards (@CecileRichards) March 5, 2019
This is the kind of selflessness – putting the country and an existential issue like climate change above ego – that we desperately need more of in public life. Thank you @MikeBloomberg https://t.co/hDhUMBgvpy
— Neera Tanden (@neeratanden) March 5, 2019
