Billionaire Michael Bloomberg will not accept political donations if he chooses to officially jump into the presidential race, nor will he take a presidential salary should he win the Democrat nomination and defeat President Trump, according to reports.
Bloomberg’s chief adviser, Howard Wolfson, confirmed this week that Bloomberg, who has a net worth over $50 billion, will not accept political donations, should he formally jump into the presidential race.
“He has never taken a political contribution in his life. He is not about to start,” Wolfson stated. “He cannot be bought.”
He added that Bloomberg “is wholly independent of special interests, will not take a dime in any contribution, and never has in any of his three races.”
However, Bloomberg’s refusal to accept donations “would make it impossible for Bloomberg to participate in any sanctioned Democratic debates,” per the Democratic National Committee’s (DNC) requirements.
Wolfson added that Bloomberg will not take a presidential salary, should he make it into the Oval Office.
“Wolfson said Bloomberg would work for only $1 a year as president, just as he did when he was New York City mayor for more than a decade,” according to NBC News.
While the billionaire has yet to formally announce a presidential bid, all signs are pointing to one. He filed his statement of candidacy on Thursday and secured a multimillion-dollar ad buy, which is slated to air from November 23 to December 3, 2019 and span approximately 99 cities.
Sen. Bernie Sanders (I-VT) said he was “disgusted” following the news of Bloomberg’s $33 million ad buy, adding that it is the “latest example of a rigged political system that we are going to change when we’re in the White House.”
Bloomberg’s team said that the former New York City mayor will spend “whatever it takes” to defeat Trump in 2020.