Bloomberg takes critical step for 2020 run

The billionaire takes another step in positioning for 2020

Billionaire businessman Michael Bloomberg has taken a key step that brings him closer to entering the 2020 presidential race.

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FOX Business' Charlie Gasparino reports that Bloomberg has filed paperwork, an "FEC form 2...a statement of candidacy for Michael R. Bloomberg for the Democratic Party under the name of Mike Bloomberg 2020 Inc.”

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While the filing is considered a major step toward an official announcement, it does not confirm he will in fact run.

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Bloomberg's filing came one day after the Democratic debate, which reinforced to voters that the field remains quite crowded with 10 candidates.

Frontrunners include former Vice President Joe Biden, Sens. Elizabeth Warren and Bernie Sanders. There is also speculation that Hillary Clinton is mulling a run.

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Bloomberg has a net worth estimated at $53 billion with much of it tied up in his financial and news empire that bears his name, but he is long said to have tens of billions of liquid assets that can quickly be converted to cash so he can mount a serious run for president.

FOX Business has also learned for the rank and file at Bloomberg L.P. it is  “business as usual” until Bloomberg makes an official announcement — which will be “soon.” Bloomberg is said to be moving closer to running for president because he wants to defeat President Trump in the 2020 race and believes he may have the best chance among the current crop of candidates to win.

Bloomberg is considered a fiscal conservative who has taken progressive positions on issues like gun control and climate change. But he believes the party may be moving too far left to defeat Trump, particularly as Massachusetts Senator Warren rises in the polls. He is also worried that the party’s moderate front-runner, former Vice President Biden, might not have the stamina to take the nomination despite his early lead in national polls.

A spokesman for Bloomberg declined to comment.

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