NEW YORK — Former New York mayor Michael Bloomberg
announced Tuesday that he would not run for president, concluding his path to the Democratic nomination was narrow and he could accomplish more as a private citizen.
The decision removes from the race one of the world’s richest men, a self-described centrist who had the potential to dominate early primary spending and complicate the campaigns of other moderate candidates.
“I believe I would defeat Donald Trump in a general election,” Bloomberg, 77, said in a statement posted online Tuesday afternoon. “But I am clear-eyed about the difficulty of winning the Democratic nomination in such a crowded field.”
In place of a candidacy,
Bloomberg has committed to funding a new independent political operation with the goal of preventing the reelection of President Trump, with intensive voter targeting and outreach in swing states over the next 18 months.