Bloomberg enters 2020 presidential race with a record ad blitz

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Rivals were quick to condemn Bloomberg 77 for leveraging his personal fortune to sway the race

Sen. Bernie Sanders on Sunday knocked Michael Bloomberg's decision to enter the 2020 race for the Democratic presidential nomination, saying his new opponent is "not going to get very far in this election" and continuing his attacks on the former NY mayor's billionaire status.

"He represents an existential threat to our country and our values".

"I'm running for president to defeat Donald Trump and rebuild America", Bloomberg tweeted.

"We can not afford four more years of President Trump's reckless and unethical actions", he wrote.

Bloomberg would be the second billionaire to compete for the 2020 Democratic nomination, and is about 33 times richer with a net worth of $54 billion compared to Tom Steyer's $1.6 billion, according to Forbes.

Bloomberg is the founder and majority owner of Bloomberg LP, the parent company of Bloomberg News.

"Look, Michael Bloomberg was a great mayor of New York City".

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In his announcement, Bloomberg portrayed himself as no-nonsense business and government leader, who created jobs at his own company, helped rebuild New York City after the September 11 attacks and threw himself behind the biggest challenges facing the country, including climate change and gun control. He has poured his fortune into various political causes, especially gun-control efforts such as his Everytown for Gun Safety. Bloomberg has stepped in promising to buy $30 million dollars in ads in order to present a platform that's presented as "bi-partisan" but seems to be more motivated by a fear the Elizabeth Warren and Bernie Sander are coming for his billions.

Bloomberg is poised to run as a centrist, and analysts suspect that he could take away some of the support enjoyed by fellow moderate Joe Biden.

Bloomberg, who served three terms as New York's mayor, announced his 2020 candidacy in a video and statement on Sunday, saying he's challenging Trump "to rebuild a country and restore faith in the dream that defines us".

Warren and Sanders have cemented their positions in the top tier of candidates but also raised concerns in the party that moving too far left would ensure Trump's re-election. But we would like to invite readers who can afford to do so, and for whom The Times of Israel has become important, to help support our journalism by joining The Times of Israel Community.

It is the most money ever spent by any candidate for one week of advertising, breaking the $25-million record set by President Obama at the end of his 2012 reelection campaign, the firm said.

Bloomberg News will continue normal campaign coverage, though they will "continue our tradition of not investigating Mike (and his family and foundation) and we will extend the same policy to his rivals in the Democratic primaries". "America already elected a builder", Conway said, adding that he should stick to being a mayor.

Last Sunday, he made a speech at Brooklyn's Christian Cultural Center apologizing for his policing policies and admitting, "the way it was used is racist".

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