New York (USA) | Jagran News Desk: Former New York Mayor Michael Bloomberg has announced that he would run for president in 2020 and said that he will be squarely aimed at defeating President Donald Trump.

“I'm running for president to defeat Donald Trump and rebuild America. We cannot afford four more years of President Trump's reckless and unethical actions,” he wrote in a letter explaining his candidacy on his campaign website.

“He represents an existential threat to our country and our values. If he wins another term in office, we may never recover from the damage,” he added.

He had filed paperwork on Thursday with the U.S. Federal Election Commission to run for president.

Earlier this month, former Massachusetts Governor Deval Patrick had also announced that he would also run for the Democratic nomination.

Bloomberg, who had earlier said that he would not run, has made a U-turn as he feels that the Democrats doesn’t have a candidate to defeat Trump.

According to a report by Kantar Media/CMAG, the former New York Mayor has placed at least USD 37 million worth of television advertising over the next two weeks to start his campaign. He is ranked by Forbes as the eighth-richest American with an estimated worth of USD 53.4 billion.

His candidacy presents a late challenge to the pack of Democratic contenders near the top in opinion polls - fellow centrists Joe Biden, the former US Vice President and Pete Buttigieg, the Mayor of South Bend, Indiana, and prominent liberal U.S. Senators Elizabeth Warren and Bernie Sanders.

The former New York Mayor has been critical of anti-Wall Street Crusader Warren and her plan to tax the super wealthy to pay for programs ranging from universal healthcare to free college tuition. He will compete with Biden and Buttigieg to become the moderate alternative to the liberal agendas of Warren and Sanders.

(With Reuters inputs)

Posted By: Aalok Sensharma