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Michael Bloomberg prepared to sell name company for presidential run

Billionaire businessman and former mayor of New York City Michael Bloomberg – who weighs a presidential bid in 2020 –…

Billionaire businessman and former mayor of New York City Michael Bloomberg – who weighs a presidential bid in 2020 – is prepared to sell his business in the pursuit of return to politics.

During an interview with Iowa Radio on Tuesday Bloomberg said if he decides to run for president, he would either sell the media company Bloomberg or place it in blind faith. Blind confidence is a financial arrangement through which a person divests control, but not ownership, by management to an independent trust in avoiding conflicts of interest.

“But I believe that in my age, if it is possible to sell it, I would do it, he said.” At some point you will die anyway, so you want to do it before that. “

The media company Bloomberg has an estimated $ 50 billion valuation and generated $ 9.6 billion in revenue in fiscal 201

7, according to Forbes.

More from FOXBusiness.com …

When discussing the current administration, the billionaire business movement said that president Trump’s position in terms of standing up to China is right, but his methods of correcting trade balances are not.

“In his opinion, there is one winner and one loser in each transaction, and I think it’s a lot simplified approach to the world, “he said.

Bloomberg, who ran to mayor of New York as Republican and Independent, would run for Oval Office as a Democrat, supporting abortion rights and k limb changes. He contributed more than $ 100 million to the party at the beginning of the 2018 middle election and was named one of the millionaires who tried to “buy” the Congress of California GOP Rep. Kevin McCarthy.

Tuesday highlighted Bloomberg’s first visit to Iowa, an important primary state.

Bloomberg has said he will decide if he should run to president before February 2019, according to The Associated Press.

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