Battle of the billionaires? Ex-New York mayor set to run for president

Former New York City mayor Michael Bloomberg is expected to announce he is running for US president today.

After saying in March he would not run, the multi-billionaire businessman is thought likely to file paperwork by the Friday deadline to run in the Democratic presidential primary in Alabama.

He has not yet confirmed his decision, but has previously warned the current field of candidates is ill-equipped to defeat Donald Trump.

Donald Trump has been fined $2million after using his charitable foundation to further his political interests
Image:Mr Bloomberg is concerned none of the Democratic candidates would beat the president

The 77-year-old co-founder of Bloomberg financial services entering the race would dramatically reshape the Democratic contest less than three months before primary voting begins.

He has spent the past few weeks talking to top Democrats about the 2020 candidates, expressing concerns about former vice president Joe Biden’s campaign as well as liberal Massachusetts senator Elizabeth Warren, according to insiders.

Mark Gibson

Graduates in Northwestern University, Evanston, Illinois 1990. Move to Los Angeles California in 2004. Specialized in Internet journalism.

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