Bloomberg 2020? Why this Billionaire Joined the Presidential Race

Courtesy of CNBC

By Angela Hickey

The name Mike Bloomberg is very recognizable in the world of politics. This former New York City mayor is once again in the eye of the public after announcing his bid to join the 2020 presidential race. Considering the rest of the candidates have already been campaigning for a full year, many are wondering why Bloomberg decided to make this rather sudden and unforeseen decision. 

Bloomberg, known for his time as mayor of New York City from 2003 to 2013, announced that he was joining the presidential race on November 24, 2019, stating how he will, “defeat Donald Trump and rebuild America.” 

The concern of the public stemmed from its belief that Bloomberg would buy the election with his copious amounts of wealth. Bloomberg is currently carrying out the largest advertising campaign in history, spending over $400 million collectively on advertisements. Bloomberg’s staff is reportedly being paid approximately $10,000 a month, and receives gifts such as three catered meals a day, iPhone 11s and MacBook Pros. 

So far, Bloomberg’s campaign has done rather well despite much of the public not taking it very seriously at first. According to a study done by Monmouth University, Bloomberg has risen to fourth place among the other Democratic hopefuls, gaining  more and more legitimate recognition to his campaign. Yet the public continues to ponder what Bloomberg will accomplish in order to “Get it Done.”

As Bloomberg continues his campaign, more attention has been brought to the actions of his past, especially highlighting his negative choices. Bloomberg’s campaign will now be eclipsed by allegations of misogynistic and sexual comments made towards his female workers. 

According to a recent article by CNN, he made multiple misogynistic and sexual comments towards his female employee previously throughout his career, with many of these instances resulting in lawsuits. There have been no recent developments on these lawsuits at this time. 

Some of his promises have landed him in hot water with a lot of the general public. From gun control to climate change Bloomberg has been very open about what he will do if he is elected to the presidency. When asked about his previous implementation of hte “stop-and-frisk” policy, which tended to place negative attention on many African American and Hispanic members of the community, Bloomberg simply offered an apology according to The New York Times.

Many of his official campaign promises are highlighted on his official campaign website, featuring all the latest news on his campaign, as well as his stances on certain political issues, such as climate change and criminal justice reform. Along with his long record of accomplishments from his time as mayor of New York City, the public has just begun to consider Bloomberg as a serious candidate. 

The Bloomberg 2020 campaign is discussed in reference to the Supreme Court Case, Buckley v. Valeo (1976). This case is the reason that presidential candidates are able to fund their own campaigns without any limitations. This case is important in reference to Bloomberg’s candidacy due to the fact that nearly all of his campaign funds are coming from his own pocket, mostly due to the lack of donors backing his campaign. 

With the presidential race becoming more competitive as the election date rapidly approaches, all Democratic candidates have started to campaign more aggressively than ever before in order to come out on top. It’ll be a long way to the top, and the race is now tighter than ever.