After several weeks of speculation, Michael Bloomberg has officially nominated for the 2020 presidential elections. The campaign is termed as “Mike Bloomberg 2020”. Here’s all you need to know about this campaign.
The billionaire and former mayor of New York announced his candidacy on November 24. In a written statement he described himself as being in a unique position to defeat President Donald Trump. Here’s what he wrote: “I ran for president to defeat Donald Trump and rebuild the United States”.
Already almost a score of candidates disputes to be at the top of Democratic list to rival Donald Trump. And if they were not enough, the media tycoon millionaire Michael Bloomberg has just broken into the Democratic primary with the official presentation of his candidacy for the presidency of the USA.
“We are not in the condition to afford more years of imprudent and unethical actions by President Trump,” he continued. It represents an existential threat to our country and our values. If he wins another term in office, we may never recover from the damage. “
Bloomberg’s appearance occurs only ten weeks prior to the primary vote session. It is like an unorthodox measure that reflects the anxiety of the Democratic Party about the strength of its current candidates.
Bloomberg is supposed to fight within the party’s strengthened progressive base. He has deep ties to Wall Street and became a Democrat only last year. However, its enormous resources and moderate profile could be attractive in a primary competition of searching the best-positioned person to deny Trump.
Forbes ranked Bloomberg as the eleventh richest person in the world last year with a net worth of approximately $ 50,000 million. On the other hand, the present US president ranked 259 with a worth of over $ 3 billion.
Bloomberg has already promised to spend at least $ 150 million of his fortune for a 2020 campaign, including more than $ 100 million for Internet ads that attack Trump, between $ 15 million and $ 20 million in a voter registration campaign aimed primarily at minority voters, and more than $ 30 million in an initial round of television commercials. Therefore, the campaign starts with a television commercial that would have cost $ 31 million. This is as per the information obtained by NBC News.
Campaign’s Fund Management
According to the notice, Bloomberg, who was mayor of NY from 2002 to 2013, promises to “rebuild the country and restore faith in the dream that defines us: where the rich will pay more in taxes and the middle class will get their fair share; all who do not have medical insurance, they can get it and everyone who likes theirs can stay there, where the jobs will not only help them manage but also get ahead. “
Although, Bloomberg did not comment on how much he would be willing to spend on his presidential ambitions, senior adviser Howard Wolfson said: “Whatever it takes to defeat Donald Trump.”
Moreover, Bloomberg would not accept a single political donation or accept a salary if he became president – Wolfson added further. But, democratic rivals like Bernie Sanders pounced on Bloomberg’s plans to trust his personal fortune even before the final announcement.
Sanders tweeted: “I dislike the idea that Michael Bloomberg or any billionaire thinks they can bypass the political process and spend tens of millions of dollars to buy elections.”
It’s Not His First Attempt
It is not the first time that the 77-year-old tycoon has threatened to run for the electoral race. He explored candidacies in 2008, 2012 and 2016 too. But, he has never come to present himself officially. According to his statements before nominations, he has implied that he does not see any Democratic candidate well-positioned enough to win Trump in 2020.
With his political experience – he has been mayor of New York for 12 years as a Democrat, Republican, and independent. He is supported by the resources offered by one of the country’s greatest fortunes. Right now, the tycoon can be seen as the only rival capable of snatching Trump’s re-validation. Already in March, he said he believed “he would beat Donald Trump in the elections.”
Trump, however, has not been impressed by Bloomberg’s step forward, which he called slyly “little Michel,” assuring his failure if he finally makes the decision to run for the presidential race.