Former New York Mayor and billionaire Michael Bloomberg launches Democratic presidential candidacy bid

Michael Bloomberg has officially announced he is running for president, pitting the billionaire former mayor of New York City against a crowded field of Democrats vying to take on Donald Trump in 2020, Financial Times reports.

The 77-year-old former New York City mayor, positioning himself as a centrist alternative to Joe Biden, launched his candidacy in an online video that is part personal story, part attack on President Donald Trump.

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