Michael Bloomberg is about to find out if money really can buy you love.

The billionaire former New York City mayor officially entered the presidential race Sunday, pitching himself as the wealthy white knight for a Democratic Party deeply anxious about its other candidates’ ability to defeat President Donald Trump.

“I know what it takes to beat Trump, because I already have. And I will do it again,” Bloomberg said in his launch email.

Were it not for his immense wealth, estimated at $55 billion, Bloomberg’s late entry would likely be dismissed as of little significance.

Democratic voters say they already have plenty of options in 2020 and Former Massachusetts Gov. Deval Patrick, who jumped in the race two weeks ago, had to cancel a recent event at Morehouse College in Atlanta after no one showed up.

But rival campaigns are reacting differently to Bloomberg’s entry as they did to Patrick’s or that of billionaire Tom Steyer, who has struggled for relevance despite spending tens of millions of dollars on TV ads in recent months. There’s a hint of fear in some of their voices when they privately discuss Bloomberg, even as they argue he has no shot.

If Steyer, financially, was a battleship compared to other candidates’ fishing boats, Bloomberg is an aircraft carrier.

The media mogul and former mayor, who has already made the single largest political advertising purchase in history, is worth some fifty times as much as Steyer.

Bloomberg spent more than $250 million combined on his three mayoral campaigns in New York City and has doled hundreds of millions more on charitable and political causes. Aides say he’ll spend whatever it takes on his latest project, the presidential run.

Some welcome the development as a needed shakeup to the messy status quo of the 2020 primary. Read more

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