Billionaire former New York Mayor Michael Bloomberg has officially announced he is standing to be the Democratic Party presidential nominee.
He joins 17 other candidates vying for the Democratic nomination to take on Donald Trump in 2020.
"I’m running for president to defeat Donald Trump and rebuild America," Bloomberg wrote on Twitter.
"I believe my unique set of experiences in business, government, and philanthropy will enable me to win and lead," he added.
Michael Bloomberg is the eighth richest American with a net-worth of $54.4bn, according to Forbes.
