The former Mayor of New York Michael Bloomberg has announced a bid for the 2020 Democratic presidential nomination. Wolfson said Bloomberg would work for only $1 a year as president, just as he did when he was New York City mayor for more than a decade. "If he wins another term in office, we may never recover from the damage", Bloomberg added.
"I'm disgusted by the idea that Michael Bloomberg or any billionaire thinks they can circumvent the political process and spend tens of millions of dollars to buy elections", he tweeted on Friday. He remains the majority owner of the private company, which includes divisions such as Bloomberg News, Bloomberg Television and Bloomberg Professional Service, the financial data terminal that provides the bulk of the company's revenue.
He joins 17 other candidates vying for the Democratic nomination to take on Mr Trump in 2020.
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Former Vice President Joe Biden entered the race as the front-runner, but he has struggled to raise money and at 77, has faced questions about his age, verbal gaffes and other out-of-step comments. "After witnessing the awful toll of gun violence, he helped create a movement to protect families across America and stood up to the coal lobby and this administration to protect this planet from climate change".
When Bloomberg was mayor, Republicans derided his efforts to limit the consumption of sugary drinks as a "Big-Gulp ban" and a symbol of government overreach.
Despite that show of support from at least one prominent black leader, Bloomberg may have trouble building a multi-racial coalition early on given his turbulent record on race relations in NY.
Bloomberg's impending decision comes little more than two months away from the first-in-the-nation Iowa caucuses, with the New Hampshire primary only a week after.
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Bloomberg has faced controversy in the past for having pioneered the extremely controversial Stop and Frisk policing policy in NY that resulted in minority groups being severely impacted. He has been criticized for backing the stop-and-frisk policing tactics that often targeted black and Latino men, and he has a history of making lewd remarks about women.
"Conway cast doubt on whether he'd be welcomed by Democratic voters".
Mr. Bloomberg will face questions about his decision to run for NY mayor in 2001 as a Republican.
Initially registered as a Democrat, Bloomberg, a MA native, filed paperwork to change his voter registration to Republican in 2000 before his first run for New York City mayor, according to a spokesman.
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