US-2020-POLITICS

Billionaire Bloomberg considers run for US Presidency

New York's ex-mayor is concerned current Democratic hopefuls cannot beat Trump

In Summary

• The 77-year-old is expected to file paperwork this week for the Democratic presidential primary in Alabama.

• Former Vice-President Joe Biden, Massachusetts Senator Elizabeth Warren and Vermont Senator Bernie Sanders are the Democratic frontrunners.

Michael Bloomberg has highlighted climate change and gun control as key issues/GETTY IMAGES
Michael Bloomberg has highlighted climate change and gun control as key issues/GETTY IMAGES

Billionaire businessman Michael Bloomberg is strongly considering entering the race for the US Democratic Party's presidential nomination.

The ex-New York City mayor is concerned the current field of candidates is not good enough to beat Donald Trump in the 2020 election, his spokesman says.

The 77-year-old is expected to file paperwork this week for the Democratic presidential primary in Alabama.

A total of 17 candidates are currently vying to take on President Trump.

Former Vice-President Joe Biden, Massachusetts Senator Elizabeth Warren, and Vermont Senator Bernie Sanders are the Democratic frontrunners.

Some recent opinion polls have suggested that Ms Warren and Mr Sanders - who are regarded as to the left of Mr Biden - might lose against Republican Mr Trump if either won the party's nomination.

Mr Bloomberg's spokesman said: "We now need to finish the job and ensure that Trump is defeated. But Mike is increasingly concerned that the current field of candidates is not well-positioned to do that."

Who is Michael Bloomberg?

Mr Bloomberg was a Wall Street banker who went on to found the financial publishing empire which bears his name. A philanthropist, he has donated millions of dollars to educational, medical and other causes.

Originally a Democrat, he became a Republican to mount a successful campaign for mayor of New York City in 2001.

He went on to serve three terms as mayor until 2012, rejoining the Democratic Party only last year.

Regarded as a moderate Democrat, he has highlighted climate change as a key issue, but he had appeared to dismiss a potential run for the presidency earlier this year.

Mr Bloomberg is a large financial backer of gun-control advocacy group Everytown for Gun Safety, which he helped found in 2014.

The group, and Mr Bloomberg were seen as playing a major role in a sweeping victory for Democrats in Virginia state elections earlier this week.

They vastly outspent gun lobby group the National Rifle Association - which is based in Virginia - by pumping $2.5m (£1.94m) into the state race.