Former New York City Mayor Michael Bloomberg said Monday that he will not run for president, citing a concern that his independent bid would hand the White House to Donald Trump or Ted Cruz.
The billionaire, who has spent months mulling a third-party run that would have roiled this year’s already extraordinarily unpredictable presidential campaign, made his decision official through an editorial posted on the Bloomberg View website.
Bloomberg, in ending his third and likely final flirtation with a White House run, wrote that a three-way race could lead to no one winning a majority of electoral votes, which would send the race to the Republican-controlled House of Representatives — and, therefore, to one of the GOP front-runners.
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