Former New York City Mayor Michael Bloomberg has announced he will not run for president in 2020, JTA reported Tuesday.
In an op-ed on the Bloomberg site, he wrote that he is “clear-eyed about the difficulty of winning the Democratic nomination in such a crowded field.”
“We cannot allow the primary process to drag the party to an extreme that would diminish our chances in the general election,” he added.
Bloomberg wrote that he also plans to devote more time and money to environmental causes, including a new initiative with the Sierra Club, and continue his push for gun control.
“[A]s I’ve thought about a possible presidential campaign, the choice before me has become clear. Should I devote the next two years to talking about my ideas and record, knowing that I might never win the Democratic nomination? Or should I spend the next two years doubling down on the work that I am already leading and funding, and that I know can produce real and beneficial results for the country, right now?” he wrote. “I’ve come to realize that I’m less interested in talking than doing.”
Bloomberg, one of the richest men in the world, had been openly contemplating a Democratic White House bid since late last year. He registered as a Democrat in October of 2018.
In February, Bloomberg said he would make a final decision about running by the end of that month.
The Democratic primary field already features candidates such as Senator Elizabeth Warren, Senator Amy Klobuchar, Senator Kamala Harris, Senator Cory Booker, and Senator Bernie Sanders.
Other potential candidates include former Vice President Joe Biden and Democratic politician Beto O’Rourke.