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Former New York Mayor Michael Bloomberg announced he won't run for president in 2020, removing a prominent name from an already crowded field of candidates looking to challenge Donald Trump. "But I am clear-eyed about the difficulty of winning the Democratic nomination in such a crowded field", the businessman said in an opinion column on the Bloomberg media platform that he owns. I know we can do better as a country. Environmental activist Tom Steyer ruled out a run earlier this year, opting instead to focus on his efforts to drum up popular support for the impeachment of President Donald Trump.

The one-time Republican who is now a registered Democrat and prominent critic of President Trump spent much of a year ago testing the political waters. Elizabeth Warren, D-Mass., and Sen.

So, Bloomberg argued he'll do more good by staying out of the race and focus on using his enormous wealth to help Democratic causes and subvert Trump's right-wing agenda.

"Now that we have a destination, Mike Bloomberg will help us find the path to get there", he said.

He added that his foundation will continue to address gun violence, the racial achievement gap in schools, and college access for low-income students. But Bloomberg also would have brought considerable strengths to a campaign, including his work on climate change and guns and the fact that he has spent millions on Democratic causes for years.

It aims to begin moving America away from oil and gas "as quickly as possible". For the moment, the number of Democratic presidential candidates holds firm at 14.

In his contemplations about joining the presidential race, Bloomberg had promised a campaign based on his record as a fiscal steward of New York City for 12 years and his philanthropic activism on issues like gun control, global warming and public health.

These efforts, Bloomberg argued, are faster and more easily attainable on the private level.

Bloomberg spent more than $100m to help Democrats in the 2018 midterm elections, and his team has been preparing a data-driven effort to go much further in 2020.

"It's not who I am, nor do I think it's what voters want in a leader", the former three-term mayor said Tuesday. "So I look forward to working with him one way or another". Trump tweeted in response: ""'(Crooked) Hillary Clinton confirms she will not run in 2020, rules out a third bid for White House.' Aw-shucks, does that mean I won't get to run against her again?