Bloomberg Says He Won't Run For President And 'Risk' Electing Trump Or Cruz

Former three-term mayor of New York City Michael Bloomberg said Monday he will not run for president, after months of speculation that he would jump in as in independent during a campaign in which it seems anything could happen.

In a column on his opinion site Bloomberg View, he said looking at the data made it "clear to me that if I entered the race, I could not win." He added that he feared his running could split votes enough to give Donald Trump or Ted Cruz an advantage.

Bloomberg writes that he believes he could have won a number of states but that ultimately the race could come down to three people in the general election, none of whom would get enough electoral votes to win the presidency. That would put the onus on the Republican-controlled Congress and, as Bloomberg writes, "out of the hands of the American people."

"As the race stands now, with Republicans in charge of both Houses, there is a good chance that my candidacy could lead to the election of Donald Trump or Senator Ted Cruz," he said. "That is not a risk I can take in good conscience."