Michael Bloomberg Will Not Run For President In 2016, Chides Trump And Rubio In Post

Michael Bloomberg has officially removed his name from the 2016 U.S. Presidential election ballot.

In a post titled "The Risk I Will Not Take" published on Bloomberg View, he wrote, "Over the last several months, many Americans have urged me to run for president as an independent, and some who don’t like the current candidates have said it is my patriotic duty to do so. I appreciate their appeals, and I have given the question serious consideration. The deadline to answer it is now, because of ballot access requirements."

Financial Times first reported back in January that the CEO of Bloomberg would consider running a third-party campaign this election season.

Related Link: What To Expect From The 2016 Presidential Elections

"I've always been drawn to impossible challenges, and none today is greater or more important than ending the partisan war in Washington and making government work for the American people -- not lobbyists and campaign donors," the post continued. "...But when I look at the data, it's clear to me that if I entered the race, I could not win. 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."

The former New York City mayor said Republican-hopeful Donald Trump is running the "most divisive and demagogic presidential campaign I can remember" and that "Senator Cruz's pandering on immigration may lack Trump's rhetorical excess, but it is no less extreme. His refusal to oppose banning foreigners based on their religion may be less bombastic than Trump’s position, but it is no less divisive."

Bloomberg said he's not ready to endorse any of the remaining candidates.

Bloomberg founded his self-titled company in 1981. This eventually led him to become one of the richest persons in the people, with an estimated net worth of $41 billion. He was a three-time mayor of New York City, in office from 2002-2013.

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