Michael Bloomberg changes party affiliation, re-registers as Democrat

Michael Bloomberg changes party affiliation, re-registers as Democrat

Michael Bloomberg changes party affiliation, re-registers as Democrat

Billionaire mogul Michael Bloomberg announced on Wednesday that he is re-joining the Democratic Party, prompting new speculation about his possible presidential ambitions.

The former New York City mayor wrote on Instagram early Wednesday that the country needs Dems "to provide the checks and balances our nation so badly needs". "That's not to say I'm with the Democratic Party on everything, but I don't see how you could possibly run as a Republican".

Bloomberg told Buzzfeed News this week that "elections are about swings".

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Bloomberg, who served three terms as mayor, is the founder and owner of Bloomberg L.P., a global financial services and media corporation.

'At key points in US history, one of the two parties has served as a bulwark against those who threaten our Constitution.

"When I look at the data, it's clear to me that if I entered the race, I could not win", Bloomberg announced on his website in 2016.

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Worth an estimated $50 billion, Bloomberg is a social liberal who is in sync with the Democratic Party on issues like gun control, immigration, abortion rights and climate change.

Bloomberg had been a Democrat until he changed his registration in 2001 and was elected mayor that year as a Republican. "Two years ago at the Democratic Convention, I warned of those threats", Bloomberg said.

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Sarah Bryner, research director at the nonpartisan Center for Responsive Politics, said Bloomberg's contributions put him "near the top if not at the top of donations this cycle". He has vowed to spend at least $100 million - $80 million on House races and $20 million on Senate races.

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