- Former NYC Mayor Michael Bloomberg is joining the 2020 race for the Democratic presidential nomination.
- A Wall Street billionaire, Bloomberg’s personal wealth vastly exceeds that of President Donald Trump.
- That might be exactly what Trump needs 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 joins the 2020 race, it’s worth taking a look at just how rich this Wall Street billionaire is.
With a net worth of more than $52 billion, Bloomberg isn’t just rich – he’s what Democrats like Elizabeth Warren and Alexandria Ocasio Cortez would call filthy rich.
Michael Bloomberg has made so much money from his company’s Bloomberg Terminals that his net worth makes Trump’s look paltry by comparison. And that’s an astounding amount of personal wealth, because Trump is not only the wealthiest US president in history, he’s also richer than all 44 other presidents combined.
And Michael Bloomberg would still be richer than 17 Donald Trumps put together:
How did Bloomberg accrue such a vast fortune? In party by leasing Bloomberg Terminals to Wall Street financiers since the 1990s, which kept them supplied with a steady flow of the latest financial news and data. The terminals lease for around $20,000 for 12 months, and more than 300,000 financiers use them worldwide.
You do the math.
Will Democrats Nominate a Billionaire in 2020?
How will Bloomberg’s entry into the 2020 race fare in a Democratic party highly animated by progressive ideals? Certainly not so well among 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.