Former New York Mayor Bloomberg enters 2020 Democratic presidential race

FILE PHOTO: Former New York City Mayor and possible 2020 Democratic presidential candidate Michael Bloomberg speaks at the Institute of Politics at Saint Anselm College in Manchester, New Hampshire, U.S., January 29, 2019. REUTERS/Brian Snyder/

Billionaire businessman Michael Bloomberg, the former mayor of New York City, jumped into the U.S. presidential race on Sunday, adding another moderate voice to a crowded field of Democratic contenders seeking to face Republican President Donald Trump in the November 2020 election.

The move represents an about-face for Bloomberg, 77, who had said in March that he would not make a run for the White House.

“I’m running for president to defeat Donald Trump and rebuild America. We cannot afford four more years of President Trump’s reckless and unethical actions,” said Bloomberg, 77, a media mogul who founded Bloomberg LP.