Former New York City Mayor Mike Bloomberg formally announced that he is seeking the Democratic nomination for president on Sunday.
“Defeating Donald Trump — and rebuilding America — is the most urgent and important fight of our lives. And I’m going all in,” Bloomberg said. “I offer myself as a doer and a problem solver — not a talker. And someone who is ready to take on the tough fights — and win.”
Bloomberg has also bought nearly $35 million in ads, which The New York Times noted “dwarfs other campaign’s advertising budgets.”
Bloomberg, whose net worth is valued at $50 billion, vowed not to accept political donations, which means he’s unlikely to ever appear at a primary debate, which has donor thresholds.
Bloomberg, who has sparred with progressive candidates like Elizabeth Warren and Bernie Sanders, plans to run on a platform of increasing taxes on the wealthy, increased gun control measures, and improving Obamacare and guaranteeing healthcare to all (but not Medicare for All).
Bloomberg faces criticism:
Bloomberg “faces immense obstacles to winning the Democratic nomination, starting with his own political baggage that includes a complex array of business entanglements, a history of making demeaning comments about women and a record of championing law enforcement policies that disproportionately targeted black and Latino men with invasive searches,” The Times reported.
Sanders accused Bloomberg of “trying to buy an election” with his massive ad buy.
“Multibillionaires like Mr. Bloomberg are not going to get very far in this election,” he said.
Bloomberg News to cease primary coverage:
Bloomberg Editor-in-Chief John Micklethwait said in a statement that some members of its editorial board would join Bloomberg’s campaign.
He wrote that the newsroom would “continue our tradition of not investigating Mike (and his family and foundation) and we will extend the same policy to his rivals in the Democratic primaries.”
“We cannot treat Mike’s Democratic competitors differently from him,” he wrote. “For the moment… [we] will continue to investigate the Trump administration, as the government of the day. If Mike is chosen as the Democratic presidential candidate… we will reassess how we do that.”