Former New York City Mayor Michael Bloomberg has filed federal papers declaring himself a Democratic candidate for president.
Bloomberg had ruled out running for the nomination, but earlier this month, filed the necessary paperwork to get on the ballot in Alabama and Arkansas, fueling speculation he was going to jump into the crowded Democratic field.
Bloomberg has already launched a $100 million digital campaign that targets Arizona, Michigan, Pennsylvania and Wisconsin and will run through the end of the primary season. The ads will not feature Bloomberg.
"Mike believes that Trump is an existential threat to the country. He's not waiting to take on the President, he's starting now. This is all hands on deck," Bloomberg spokesman Jason Schechter told CNN.
Bloomberg's $100 million ad spend is a significant counterweight to Trump's fundraising machine.
The President and the Republican National Committee raised a combined $308 million this year and started this month with $156 million in cash reserves, campaign officials said in October.
During the 2018 midterm cycle, Bloomberg spent over $100 million in a successful effort to help Democrats wrest control of the House away from Republicans.
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