Michael Bloomberg Enters Race For Democratic Presidential Nomination

Michael Bloomberg Enters Race For Democratic Presidential Nomination

After months of speculation, it’s official: former New York City mayor Michael Bloomberg announced he is joining the fray and running for President. Bloomberg denied any murmurings that he would seek the presidency as recently as March. Bloomberg joins 21 other candidates — 16 Democrats and three Republicans — in a bid for the White House.

The billionaire media mogul, 77, who served as mayor of New York from 2002-2013, is ranked by Forbes as the eighth-wealthiest American with an estimated fortune of $53.4 billion. Those kinds of resources mean that Bloomberg has the unique ability to self-finance his campaign.

Bloomberg has the funding, and he also has strong support from the Democratic Party. Bloomberg has long been an advocate and philanthropist on climate change. His platform also highlights his fight against gun violence. He joins four other prominent Democratic candidates — Joe Biden, Elizabeth Warren, Bernie Sanders and Pete Buttigieg.

Rounding out the Democratic candidates are a mix of wealthy business people, experienced politicians, and those struggling to stay in the running with the rest of the bunch.

But What About Weed?

While Bloomberg has long shown bias against cannabis possession and use, in an apparent about-face, Bloomberg appears to support the decriminalization of cannabis possession. Bloomberg has faced some heat in the past for remarks made about the legalization of marijuana. Still, it seems he’s now willing to show some tolerance. The Democratic presidential candidate appears to be actively trying to separate himself from looking “anti-cannabis.”

New York City had a record number of marijuana arrests during his time in office as mayor. Still, the Wall Street Journal (WSJ) reported in early December that Bloomberg supports the provisions outlined in a pending criminal justice reform plan. The plan proposes simple decriminalization. While specific details are scarce, the WSJ article noted that Bloomberg said that he will back states’ rights to end prohibition without any federal intervention.

About Brian Ellis

With 6 years' experience in business journalism, Brian is the person we turn to for anything related to the business of cannabis. His news coverage spans topics including marijuana business and finance. Brian's work features on marijuanareferral.com, marijuanamerchantaccount.com and marijuanainsuranceagent.com.