- Michael Bloomberg is a billionaire and a former mayor of New York City.
- Bloomberg is considering joining the election due to Sen. Elizabeth Warren surging.
- Bloomberg’s decision to enter the race depends on Joe Biden.
NEW YORK – Michael Bloomberg is now considering to join the 2020 Presidential election again.
Earlier this year, Michael Bloomberg was considering joining the 2020 Presidential race. He is a former mayor of New York City, and he is a billionaire worth up to $51 billion. In March, Bloomberg decided he would not run and would instead support Joe Biden. Now that Sen. Elizabeth Warren is the new front runner and Biden is faltering, Bloomberg is reconsidering his decision.
Bloomberg has been very critical about Sen. Warren’s tax plans. Sen. Warren has proposed many different tax plans during the course of her campaign. Some of her tax plans target wealthy individuals such as Bloomberg himself.
Bloomberg currently supports Joe Biden in the presidential race. But Biden is no longer considered to be the clear frontrunner anymore. He has faltered his position to Sen. Warren, whose campaign is much different from Biden’s. Biden does not seem interested in taxing the super-wealthy like Sen. Warren or Sen. Bernie Sanders is.
Polls and odds boards have shown that Sen. Warren has the best election odds right now. On Bovada, Sen. Warren has +110 of winning the Democratic nomination. Biden currently has +300 odds of winning the Democratic nomination. Sen. Sanders has +700 odds of becoming the Democratic nominee.
There is also the fact that reports have shown that Biden is not raising enough money for his campaign. Biden’s campaign is much more reliant on richer donors. These high dollar donations do not come in as frequently as smaller individual donations. Sen. Warren and Sen. Sanders’ campaigns are fueled by small individual donations. Running out of money is a serious issue that the Biden campaign might have to face.
“Bloomberg is in if Biden is out,” said a billionaire friend of Bloomberg.
But Bloomberg is a billionaire, and he is prepared to spend his own money to run for President. During his run for mayor of New York City, Bloomberg spent $100 million to do so. Bloomberg could spend up to $500 million or more if he decided to run for President. With a net worth of $51 billion, he has the money to do a campaign for the Democratic nomination.
Bloomberg already has odds at Bovada and other odds boards as well. Bloomberg has +6000 odds that he will become the next President of the United States. On the other hand, President Trump has +120 of winning reelection. Sen. Warren has +300 odds of becoming the next president. And finally, Biden has +650 odds of winning the 2020 election.
But if Bloomberg is waiting for Biden to exit the race, that time he joins may never come. In a recent CNN poll, Biden’s favorability has gone up. Biden has also said that he has no plans on leaving the race. With this in mind, Bloomberg is unlikely to join the race and split the vote between himself and Biden.