Former New York mayor Michael Bloomberg not to run for president in 2020

Former New York city mayor Michael Bloomberg announced on Tuesday that he has decided not to run for president in 2020 and will instead be devoted to clean energy efforts.

In an article published in Bloomberg opinion, Bloomberg said he has been urged by many people to run for president, but decided otherwise careful consideration.

"The best way for me to help our country in by rolling up my sleeves and continuing to get work done," instead of spending the next two years to talk about his ideas and record in order to win the Democratic nomination he might never get, he said.

In order to push forward the country's clean energy campaigns, Bloomberg said he will expand his support for the Beyond Coal campaign so that the country can retire all coal-fired power plants over the next 11 years.

He added that he will launch a campaign named Beyond Carbon, which focuses on moving the United States away from oil and gas and toward a 100-percent clean energy economy.

Bloomberg is the founder and majority owner of Bloomberg LP, the parent company of Bloomberg News. He is the United Nations secretary-general's special envoy for climate action.

The 77-year-old media mogul has changed his party affiliation on multiple occasions. He announced in October 2018 that he changed his political party affiliation to Democrat, a move led to speculation that he was aiming at 2020 presidential election.