Michael Bloomberg Says He Will Not Run for President

Michael Bloomberg GETTY - H 2016
Bennett Raglin/Getty Images for AFMDA

"I love our country too much to play a role in electing a candidate who would weaken our unity and darken our future," he wrote.

Michael Bloomberg will not seek an independent bid for the White House in 2016.

The billionaire and former mayor of New York City announced his decision on Monday.

"I love our country too much to play a role in electing a candidate who would weaken our unity and darken our future — and so I will not enter the race for president of the United States," Bloomberg wrote in an editorial published on his company's View website.

For the past few months, Bloomberg had been considering throwing his hat into the ring after publicly expressing his displeasure with the current candidates.  

"But when I look at the data, it’s clear to me that if I entered the race, I could not win," he wrote Monday. "I believe I could win a number of diverse states — but not enough to win the 270 Electoral College votes necessary to win the presidency."

Bloomberg confirmed suspicions last month that he had been investigating a possible run, at the same time criticizing those running. 

"I find the level of discourse and discussion distressingly banal and an outrage and an insult to the voters," the 74-year-old reportedly told the Financial Times.

In his Monday announcement, Bloomberg was highly critical of fellow billionaire businessman Donald Trump. 

"I have known Mr. Trump casually for many years, and we have always been on friendly terms," wrote Bloomberg. "But he has run the most divisive and demagogic presidential campaign I can remember, preying on people’s prejudices and fears. Abraham Lincoln, the father of the Republican Party, appealed to our 'better angels.' Trump appeals to our worst impulses."

Hillary Clinton and Bernie Sanders were also referred to, but not called out by name, as was done with Trump and Texas Sen. Ted Cruz. 

"The leading Democratic candidates have attacked policies that spurred growth and opportunity under President Bill Clinton — support for trade, charter schools, deficit reduction and the financial sector," asserted Bloomberg. 

Bloomberg instructed his advisors in January to draft a plan for a possible White House run, The New York Times reported. At that time, he said he would be willing to spend $1 billion of his own fortune on the campaign.

Toward the end of his Monday announcement, Bloomberg said it was too soon to back another candidate.

"I am not ready to endorse any candidate, but I will continue urging all voters to reject divisive appeals and demanding that candidates offer intelligent, specific and realistic ideas for bridging divides, solving problems and giving us the honest and capable government we deserve," he wrote.