Michael Bloomberg Won't Run for President in 2020

Former New York City mayor Michael Bloomberg said Tuesday that he will not be a candidate for president in 2020. Despite his immense personal wealth, the pro-business Bloomberg would have faced an uphill battle to win the nomination in an increasingly progressive Democratic Party. He published an op-ed discussing his decision, as well as a number of initiatives he will pursue, including one called Beyond Carbon.

Bloomberg is also expected to focus his efforts on stopping Donald Trump from winning a second term.  It was reported earlier this year that he is building a data-driven political organization to achieve that goal, which was to be active regardless of whether or not he entered the race.  

This week has seen three other Democrats announcing their decision not to run. This includes the party's 2016 nominee Hillary Clinton and Oregon Sen. Jeff Merkley, as well as former Attorney General Eric Holder.