In-Sight: Bloomberg officially joins race for US president

Billionaire former New York Mayor Michael Bloomberg has officially announced he is standing to be the Democratic Party presidential nominee. In a statement, the 77-year-old said he was standing “to defeat Donald Trump and rebuild America”.

 

Who is Mr Bloomberg?

Michael Bloomberg is the eighth richest American with a net-worth of $54.4bn, according to Forbes.

Why is Bloomberg running?

Mr Bloomberg is a very data-driven businessman. But it doesn’t take an advanced degree in quantitative analysis to realise that the Democratic field, even at this (relatively) late date is still in flux.

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