Michael Bloomberg Enters The 2020 US Election Race

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Micheal Bloomberg, who is a billionaire and was a former Mayor of New York City has signaled that he aims to join the race that will aid in securing the Democratic Party’s win for US president.

Implications of Michael Bloomberg move

He filed paperwork before the deadline. This is for the primary election in Alabama of the Democratic Party. This move is an important step particularly to join the race specifically to become this party’s candidate so as to compete with President Donald Trump within next year’s election.

However, Mr. Bloomberg who is 77, has not actually formally stated his candidacy. But it has been claimed that an announcement may come soon.

Michael Bloomberg competition

Michael Bloomberg

Mr. Bloomberg is concerned that the present Democratic contenders cannot present a tough enough challenge against Mr. Trump in 2020. Michael Bloomberg will be going into a crowded field. This will be like one of 17 candidates who are aiming to be selected as the Democratic nominee.

It is the Former Vice President, i.e. Joe Biden, who is the frontrunner. He is followed by senators, namely Bernie Sanders as well as Elizabeth Warren.

This tycoon had hinted that he wants to run, with Howard Wolfson who is his adviser, giving a statement on Thursday in the evening claiming that they wished to make certain that Trump gets defeated in the following year’s election. However, Mr. Bloomberg is worried that the present Democratic candidates are not in a good position to make this happen.

These comments arise after months of debate that were over wealth inequality within the US, and that with Mr. Sanders along with Ms. Warren announcing some plans that will result in steep tax rises particularly for billionaires. This is a threat to Mr. Bloomberg. Mr. Sanders, after unveiling his tax proposals, claimed that billionaires must not even exist. This was in September. It is stated that Mr. Bloomberg may be worth an estimated $52bn.

Mr. Trump taunted Mr. Bloomberg claiming that he is pleased to run against “little Michael”. This was on Friday. Later the same day, Mr. Bloomberg went and filed his papers. This was in Alabama.

Michael Bloomberg late entry

Michael Bloomberg knows that a belated entry like this to the race does give some challenges in states such as Iowa as well as New Hampshire. This is where there are other Democratic contenders who have been involved in campaigning for some months now.

Bloomberg’s team reportedly views a possible pathway across the apparent Super Tuesday contests within March at the time that 14 states, encompassing California, Alabama plus Colorado, aim to vote on only a single day, particularly for their desired White House nominee.

In 2008 and also 2016, Mr. Blommberg thought to run like an independent candidate. This was for the White House. It was in March of 2019 that he said he wishes not to join the exciting 2020 race.

Issues after Alabama

Mr. Bloomberg’s advisers are preparing the paperwork which is for other states and that with nearing deadlines. Arkansas, along with New Hampshire, needs candidates to file particularly by next week.

It has been said that state-by-state votes that are referred to as primaries, as well as caucuses, are going to occur from February of next year. These will be to select a Democratic White House nominee.

The final winner aims to be crowned in Wisconsin in July. This will be at the party convention. The candidate will be expected to take on President Trump, who is a Republican. This will be in the general election that will occur in November.

Who actually is Michael Bloomberg?

Mr. Bloomberg, who was an efficient Wall Street banker, went on to develop the financial publishing empire which has his name. According to Forbes, his net worth claims to be $52bn. This is actually 17 times more in comparison to Mr. Trump’s which is estimated to be at $3.1bn.

He was able to stage a prosperous campaign for the New York mayor. This was in 2001. He was able to stay in office for a wonderful three consecutive terms till 2013.

He is a philanthropist and has donated much money to educational, medical as well as other causes.

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