Michael Bloomberg joins crowded US presidential race
Donald Trump made history after becoming the first New York billionaire to move into the White House, but now it looks as if a fellow titan of the Big Apple is hot on his feels.
Michael Bloomberg officially kicked off his campaign to become the next US president today, entering an already-packed field of Democratic nominees.
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The former New York mayor and eighth-richest American is embarking on a $31m ad splurge as he looks to see off current frontrunners such as Elizabeth Warren, Bernie Sanders and Joe Biden.
The 77-year-old said he was running “to defeat Donald Trump and rebuild America”, despite having previously ruled out claims that he would enter the race.
The presidential hopeful, who owns media company Bloomberg, is believed to be worth roughly $54.4bn.
Bloomberg’s unusually late entry comes against a backdrop of increasing political pressure on billionaires, with several of his fellow candidates hitting out at the ultra-wealthy and pledging new wealth taxes on the super rich.
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Among Bloomberg’s initial campaign policies is a promise to expand health insurance, address climate change and raise taxes on the wealthy.
Trump has previously taken aim at Bloomberg amid speculation that he would run for President, telling reporters earlier this month: “There’s nobody I would rather run against than Little Michael.”