Michael Bloomberg Won't Run for President

Billionaire businessman and former mayor of New York City, Michael Bloomberg, won't run for President in 2016, according to a post from Mr. Bloomberg at Bloomberg View. Mr. Bloomberg recently suggested he may run as a third-party candidate.

His decision to stay out is said to be in part related to Secretary of State Hillary Clinton's recent strength in the Democratic Primaries. Also he faced the massive hurdle of being the first independent or third-party presidential candidate to win the presidency.

"But when I look at the data, it’s clear to me that if I entered the race, I could not win," Bloomberg said. "I believe I could win a number of diverse states -- but not enough to win the 270 Electoral College votes necessary to win the presidency."

He added, "In a three-way race, it’s unlikely any candidate would win a majority of electoral votes, and then the power to choose the president would be taken out of the hands of the American people and thrown to Congress... with Republicans in charge of both Houses, there is a good chance that my candidacy could lead to the election of Donald Trump or Senator Ted Cruz."

Bloomberg said said Mr. Trump has run the most "divisive and demagogic presidential campaign I can remember, preying on people’s prejudices and fears."

He is also not a fan of Ted Cruz. "Senator Cruz’s pandering on immigration may lack Trump’s rhetorical excess, but it is no less extreme," he said.

Bloomberg said we cannot “make America great again” by turning our backs on the values that made us the world’s greatest nation in the first place.

The entire post from Mr. Bloomberg

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