"Kind of ironic, isn't it? The party that hates billionaires has been taken over by a multibillionaire," Fox Business host Stuart Varney said in the latest episode of Fox Nation's "My Take."

"He hasn't quite taken over yet, but a man with a fortune of more than $50 billion, and who has just spent more on political ads than any other candidate ... he's going to have a big impact," Varney predicted. " I don't know whether a 77-year-old anti-gun New Yorker can win the Democratic nomination or the presidential election, but he has taken a buzz saw to the party and split it down the middle."

BLOOMBERG UNION FIRES BACK ON BAN TO AVOID INVESTIGATING 2020 DEMS: 'SILENCING JOURNALISTS'

A video released on Sunday by former New York City Mayor Michael Bloomberg marked the official start of the politician/media mogul's 2020 presidential run, Fox News reported.

“I’m running for president to defeat Donald Trump and rebuild America,” Bloomberg wrote.

There has been speculation for months that Bloomberg, who donated millions of his own dollars to Democratic candidates in the 2018 midterm elections, would enter the 2020 fray, but then he completed the paperwork to be on the Democratic primary ballot in Alabama.

Varney said he finds it ironic that Elizabeth Warren and Bernie Sanders, both of whom have "built their campaigns around getting rid of billionaires," are now running against "Bloomberg's mountain of money."

"Money really talks in politics," Varney added.

Warren and Sanders shouldn't be the only ones opposed to a Bloomberg run, however, the Fox Nation host observed -- warning Joe Biden of his new competition.

"Joe Biden can't be happy. Joe occupies the center. But his campaign is lackluster and he's not raising much money. Overnight, Bloomberg has taken over the middle ground.," Varney explained.

Varney credited Bloomberg for his deliberately late strategy, but his run "throws the party into even more chaos," he said.

BLOOMBERG CAMPAIGN MANAGER ON 2020: TRUMP IS WINNING

"His strategy is unusual, but very smart. He'll enter the race deliberately late. He'll let his competitors tear each other apart and spend their money and then jump into Super Tuesday in March. California and 14 other states hold primary votes that day. Bloomberg's billions will have an enormous impact," Varney said.

"And consider this," he added, "there may be an impeachment trial in the Senate right around that time, March of next year. Senators Warren Sanders, Klobuchar, Booker, Harris. They're not going to be on the campaign trail -- they'll have to be in D.C. passing judgment on the president."

Bloomberg's run further divides the Democratic Party, Varney explained, and he believes it "opens the door to a Trump win in 2020."

BLOOMBERG LAUNCHING 'MASSIVE' COAST TO COAST TV AD BUY

"It's hard to believe that Democrats welcome this," Varney said."I can't see the supporters of Warren and Sanders suddenly jumping ship for the $50 billion man. I can't see rural moderates getting behind a candidate who has no time for guns. And I can't see Southerners or Midwesterners supporting a climate warrior."

"Bloomberg not only splits the party, he throws it into even more chaos. And that means no matter who leads the Democrats next year, the party remains at war with itself."

To see Stuart Varney's full remarks on "My Take", and for more episodes of his daily commentary, visit Fox Nation and join today.

CLICK HERE TO SIGN UP FOR A FOX NATION FREE TRIAL

Fox Nation programs are viewable on-demand and from your mobile device app, but only for Fox Nation subscribers. Go to Fox Nation to start a free trial and watch the extensive library from Tomi Lahren, Pete Hegseth, Abby Hornacek, Laura Ingraham, Ainsley Earhardt, Greg Gutfeld, Judge Andrew Napolitano and many more of your favorite Fox News personalities.