Mike Bloomberg To Sell His Co. If Elected President: Reports

Former New York mayor and Democratic presidential aspirant Micheal Bloomberg would sell his financial-data and media company, Bloomberg L.P., if he is elected President, according to a senior adviser to his election campaign.

“Mike Bloomberg will release his tax returns. Mike Bloomberg will also sell Bloomberg LP. There will be no confusion about any of his financial holdings blurring the line between public service and personal profiteering,” U.S. media quoted Bloomberg campaign adviser Tim O’Brien as saying Tuesday.

“We will be 180 degrees away from where Donald Trump is on these issues, because Donald Trump is a walking financial conflict of interest,” the campaign said, referring to Trump remaining the head of his real-estate and branding firm while holding a political office.

Trump is the principal owner of the Trump Organization, which is a group of about 500 business entities.

Bloomberg is the CEO and majority owner of Bloomberg L.P., the private company having an estimated annual revenue of $10 billion, according to Forbes.

The 78-year-old billionaire had said in a 2018 interview that his company would “either go into a blind trust” or he would sell it if his run for White House succeeds.

“Donald Trump has broken a tradition that’s gone back to every president dating to Gerald Ford which is voluntarily releasing their tax returns so American voters know the President of the United States isn’t financially compromised by domestic forces,” O’Brien said in an interview to CNN.

Bloomberg has qualified for Wednesday’s Democratic primary debate in Las Vegas after garnering 19 percent support in a national poll.

The former Republican made a surprise late surge in national poll from NPR, PBS NewsHour and Marist Tuesday, coming second behind Senator Bernie Sanders.

This is going to be Bloomberg’s first appearance in the 2020 Democratic Party presidential debates.

“Mike is looking forward to joining the other Democratic candidates on stage and making the case for why he’s the best candidate to defeat Donald Trump and unite the country,” Bloomberg 2020 Campaign Manager Kevin Sheekey said in a statement.

Bloomberg faced heavy attacks from his Democratic rivals over the extravaganza on his presidential campaign. Advertising Analytics says he has already spent more than $3 billion to get media coverage, more than any other presidential campaign.

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