The battle of the billionaires: Michael Bloomberg launches U.S. presidential bid

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Former New York City Mayor Michael Bloomberg officially joined the race for the 2020 Democratic presidential nomination on Sunday.

"I'm running for president to defeat Donald Trump and rebuild America", Bloomberg said in a recent tweet, further explaining by adding, "I believe my unique set of experiences in business, government, and philanthropy will enable me to win and lead".

"We can not afford four more years of President Trump's reckless and unethical actions", Bloomberg wrote in an announcement on his campaign website. Bloomberg, who only officially became a Democrat past year, is considered a centrist and was convinced to run by former Vice President Joe Biden's perceived inability to lock down the moderate vote.

The billionaire owner of Bloomberg News announced his candidacy in a written statement on Sunday morning. Bloomberg previously indicated that climate change would be his priority if he were to run.

With a personal fortune of $50bn, Bloomberg will shake up the open race, with 17 candidates already vying to be the Democratic nominee to take on Trump next year.

As things stand, former Vice-President Joe Biden, Senators Elizabeth Warren and Bernie Sanders are the party's front-runners. "I think this is important", Klobuchar said.

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We have communities ravaged by gun violence.

Bloomberg has filed papers to get on the Democratic primary ballots in Alabama, Arkansas, Michigan, Georgia and Texas.

Bloomberg "is wholly independent of special interests, will not take a dime in any contribution, and never has in any of his three races", Wolfson said. His advisers have said he plans to skip the first four nominating contests in Iowa, New Hampshire, South Carolina and Nevada, and will instead focus on the delegate-rich states on Super Tuesday. Sure Bloomberg is actually a good businessman and not a awful, overt racist, and unlike Trump has executive state experience; but at a time in America where people are rallying behind candidates like Sanders and Warren, Bloomberg is just more of the same or something worse.

And as mayor, Bloomberg - who travels in private jets - was accused of turning NY into a playground of the rich while backing tough police tactics that discriminated against minorities. His support of a "stop-and-frisk" policing policy as mayor has been criticized for targeting blacks and Hispanics, key Democratic constituencies.

At the same time, Bloomberg faces significant hurdles in the campaign, including his late start and questions about why a billionaire and former Republican with a past career on Wall Street should be the standard-bearer for a party whose base increasingly is moving to the left, with young, diverse voters often skeptical of big business.

The decision not to initiate stories about Democrats' wealth and family is itself a potential conflict, as it may leave readers and viewers in the dark about important developments involving Bloomberg's rivals.

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