Bloomberg decides not to run for president

Embed from Getty Images

Former New York City Mayor Michael Bloomberg will not run for president in 2016. “When I look at the data, it’s clear to me that if I entered the race, I would not win,” he wrote in an editorial online.

“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 had been mulling an independent run and said he could spend up to $1 billion of his own fortune on the race. “As the race stands now, with Republicans in charge of both Houses, there is a good chance that my candidacy could lead to the election of Donald Trump or Senator Ted Cruz,” he added.

“That is not a risk I can take in good conscience.”

Several analysts predicted that a Bloomberg run would split the Democratic vote and lead to a Republican victory in November.