Bloomberg Considering Presidential Run

January 23, 2016

2 min read

Sources close to Michael Bloomberg, Jewish billionaire and former New York mayor, said that he is seriously considering entering the presidential race on an independent ballot.

This report was confirmed by two other sources who spoke to CNN. If the rumors are true, Bloomberg will have until March to make his final decision. Bloomberg was also rumored to have considered running in the last two presidential elections but he never officially announced these intentions.

According to a report by the New York Times on Saturday morning, Bloomberg is willing to spend $1 billion of his personal funds in the campaign. Bloomberg is 73 years old, and his net worth is estimated at $41 billion, making him the 7th richest person in America and the 13th richest in the world.

Bloomberg was mayor of New York City for three consecutive terms, beginning in 2001. Originally a Democrat, he switched to the Republican party in order to run for mayor, winning shortly after the 9-11 attacks. He left the Republican party two years after winning his second mayoral bid, running as an independent in his third campaign for the job of mayor. He is generally considered to have been successful as a mayor, taking over the post with a budget deficit of more than $3 billion and leaving with a $2.4 billion surplus.

If he enters the race now, he will be facing off against Donald Trump, who is firmly in the lead for the GOP nomination. The Democratic nomination is still a question mark, with Bernie Sanders posing a serious threat to Hillary Clinton, who was once thought to be unbeatable for the Democratic nomination.

With Clinton’s campaign faltering over questions about her honesty, Bloomberg reportedly sees the election as being between polarized and extreme candidates, making him, as a relatively moderate candidate, a viable option for voters. Trump is far right, especially on issues concerning immigration, a topic Bloomberg is considered to be pragmatically center left on. Sanders is considered by many to be a socialist, a position Bloomberg clearly does not agree with.

Bloomberg is a strong supporter of Israel, but has earned the ire of conservatives by coming out as a strong proponent of gun control. Bloomberg is also known for being a strong advocate of environmental issues.

No candidate running on an independent ticket has ever won a presidential election. The last independent candidate, Ross Perot in 1992, was the most successful in history, winning 18.9% of the vote, but no electoral college votes. Perot, like Bloomberg, was a billionaire, though with a personal net worth of $4.1 billion, not nearly as wealthy.

 

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