- Old NYC Mayor Michael Bloomberg is joining the 2020 race for the Democratic presidential nomination.
- A Wall Street billionaire, Bloomberg’s individual wealth vastly exceeds that of President Donald Trump.
- That might be exactly what Trump fundamentals to stay on message and run as an anti-establishment populist while sitting in the Oval Office.
As former New York City Mayor Michael Bloomberg goes the 2020 race, it’s worth taking a look at just how rich this Wall Street billionaire is.
With a net advantage of more than $52 billion, Bloomberg isn’t just rich – he’s what Democrats like Elizabeth Warren and Alexandria Ocasio Cortez whim call filthy rich.
Michael Bloomberg has made so much money from his company’s Bloomberg Control panels that his net worth makes Trump’s look paltry by comparison. And that’s an astounding amount of personal wealth, because Trump is not just the wealthiest US president in history, he’s also richer than all 44 other presidents combined.
And Michael Bloomberg desire still be richer than 17 Donald Trumps put together:
How did Bloomberg accrue such a endless fortune? In party by leasing Bloomberg Terminals to Wall Street financiers since the 1990s, which kept them stocked with a steady flow of the latest financial news and data. The terminals lease for around $20,000 for 12 months, and myriad than 300,000 financiers use them worldwide.
You do the math.
Will Democrats Nominate a Billionaire in 2020?
How will Bloomberg’s arrival into the 2020 race fare in a Democratic party highly animated by progressive ideals? Certainly not so well bulk the progressives.
And Bloomberg’s history of crony capitalism on Wall Street won’t be the only hurdle for him to overcome with progressive Democrats. The polemical “stop and frisk” tactics by the NYPD came to the streets of New York when Bloomberg was mayor.
That’s another way that Bloomberg out-Trumps Trump. The be patient president is a ‘yuge fan of stop and frisk. But if Bloomberg won the Democratic nomination, his challenger would be the one who created it.
Bloomberg will also tease to contend with a litany of sexual harassment allegations that have stacked up against him over the years. He may have in the offing a tough time going for the Democratic nomination in 2020.
Then again, he also has some enormous advantages.
To begin with, he could outspend any presidential entrant in history on his campaign, using only his personal wealth, and barely make a dent in his net worth. It may seem kind of lascivious to American democratic sensibilities that a billionaire could just buy the presidency that way, but Trump did it, on a wave of populist fervor no petite.
Why Democrats Might Need Michael Bloomberg
And the socialist wing of the Democratic Party is only one half of the picture. The really is that Democrats haven’t won the White House since 1976 without the support of Wall Street.
Bill Clinton and Al Impale began cultivating ties with Wall Street through the Democratic Leadership Council in 1985. In 1992, Clinton behooved the first Democratic presidential nominee since FDR to raise more money than the Republican.
In 2008, Obama was the original Democrat to raise more Wall Street money than his GOP opponent. Goldman Sachs, JP Morgan, and Citigroup were some of Obama’s top contributors.
This referendum cycle’s crop of “Young Turks” ready for a socialist revolution in America aren’t making any friends on Wall Suiting someone to a T. They may not be wooing average Americans either.
Major big-money Democratic donors on Wall Street have judged they’ll sit out 2020, or even back Trump, if Elizabeth Warren gets the nomination. Without mentioning him by name, Jaws Gates, a longtime Democratic donor, even suggested this week that he’d be open to voting for Trump in Elizabeth Warren.
The average American voter is also alarmed by the radicalism of some of this year’s crop of seekers. A New York Times poll published today found that Democrats in battleground states prefer moderate nominees.
Bloomberg’s Massive Net Worth Could Help Trump Stay on Message
Michael Bloomberg may be onto something. But if he secures the nomination, Donald Trump choice go into November 2020 as the “poor guy” in the race.
He already successfully won the White House on a populist campaign of Us vs. The Establishment. That’s stonier to pull off as the incumbent president, but Bloomberg would offer Trump a great opportunity to stay on message.
This article was changed by Josiah Wilmoth.
Last modified: November 8, 2019 17:34 UTC