Michael Bloomberg, billionaire and thrice mayor of New York City, has said that he will not run for president in the 2016 elections.
Bloomberg had considered entering the race for months, being disturbed by the rise of Donald Trump in the Republican primary, but polls indicated that he had little chance to win.
Many had hoped that Bloomberg, with his net worth approaching $40 billion, could self-finance a campaign in the 2016 presidential race.
When I look at the data, it's clear to me that if I entered the race, I could not win.
