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Billionaire Mike Bloomberg launches 2020 presidential bid becoming 19th Democrat in race as he kicks off $31M ad buy promising to make wealthy ‘pay more in tax’ and ‘restore faith’ in country

  • Michael Bloomberg released an ad campaign Sunday that revealed he has officially entered the 2020 Democratic primary race 
  • He vowed to make wealthy pay more in taxes to help boost the middle class 
  • The billionaire served as New York City mayor for three terms
  • He previously ruled out a presidential run in 2020
  • This brings the Democratic primary field  back up to 19 candidates

By KATELYN CARALLE, U.S. POLITICAL REPORTER FOR DAILYMAIL.COM

Michael Bloomberg has officially announced he is running for president, bringing the Democratic primary field back up to 19 candidates.

The former mayor of New York City, who served as both a Republican and independent in different times during his three terms, launched a minute-long ad Sunday morning announcing his bid for president.

The ad, which was obtained by CBS News from Kantar Media/CMAG, says he will seek to ‘restore faith in the dream that defines us where the wealthy will pay more in taxes and the middle class get their fair share.’

‘He could have just been the middle class kid who made good but Mike Bloomberg became the guy who did good,’ the voice over says at the start of the ad.

The campaign spot cost more than $34 million and will run through at least December 3. Previous reports indicated that the billionaire was spending the money on anti-Trump ads to run in 48 states.

‘After building a business that created thousands of jobs, he took charge of a city still reeling from 9/11. A three-term mayor who helped bring it back from the ashes, bringing jobs and thousands of affordable housing units with it,’ the ad continues.

The ad ends with a tagline: ‘Jobs creator. Leader. Problem solver.’

The 77-year-old media mogul, who is worth $52 billion, has been considering running for president as an independent or Democrat since 2008. Previously, he said he had ruled out running in 2020, but a few days ago filed the paperwork to run as a Democrat.

The spot also lauded the work Bloomberg has done to address gun violence and his advocacy for stricter gun control laws.

He co-founded Mayors Against Illegal Guns in 2006, which in 2014 merged with Moms Demand Action For Gun Sense in America to form Everytown for Gun Safety.

As a latecomer to the Democratic primary, Bloomberg plans to largely ignore the first four primary states, which the other candidates are throwing a majority of their money into campaigning in, and instead will focus all of his efforts on Super Tuesday on March 3, when 15 states hold simultaneous primaries.

Bloomberg’s deep pockets will allow him to run a campaign in all 15 states that would bankrupt other candidates.

The former mayor has received criticism from Democrats, both in the running and out, for his entry and his wealth, which arguably puts his campaign at an advantage over other who have been in longer but don’t have the same cash-on-hand.

‘I’m disgusted by the idea that Michael Bloomberg or any other billionaire thinks they can circumvent the political process and spend tens of millions of dollars to buy our elections,’ Senator Bernie Sanders, a top contender for the nomination, said in a statement on Friday.

The same type of criticism was also showered on billionaire Tom Steyer when he entered the race – with claims that he was trying to buy the Democratic nomination.

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