(Business Insider)
Michael Bloomberg, the billionaire former New York mayor, announced on Tuesday that he won't run for president in 2020, ending long-running speculation that the former Republican would join the Democratic primary field as a centrist option.
Bloomberg made his decision public in an op-ed on his news site in which he pledged to direct his energy into a new climate initiative.
"While there would be no higher honor than serving as president, my highest obligation as a citizen is to help the country the best way I can, right now," Bloomberg tweeted with a link to the statement. "That's what I'll do, including the launch of a new effort called Beyond Carbon."
The former three-term mayor said that he believed he would beat President Donald Trump in a general election, but that he knows the path through a crowded primary would be challenging. Read more