Michael Bloomberg will not run for president in 2020, the billionaire businessman said in a statement posted online on Tuesday.
div > div.group > p:first-child"> Bloomberg, the former mayor of New York, had been toying with the idea of a presidential run for months and was floated as a candidate in every presidential cycle going back to 2008. Facing a packed field of Democratic contenders, Bloomberg said he was"clear-eyed" about the obstacles to securing the party's nomination.
"I know what it takes to run a winning campaign, and every day when I read the news, I grow more frustrated by the incompetence in the Oval Office. I know we can do better as a country. And I believe I would defeat Donald Trump in a general election," Bloomberg said. "But I am clear-eyed about the difficulty of winning the Democratic nomination in such a crowded field.
Though Bloomberg will not run for president, he said he would expand his environmental philanthropy, and announced the launch of a new project, Beyond Carbon, that he described as a"grassroots effort to begin moving America as quickly as possible away from oil and gas and toward a 100 percent clean energy economy."
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