Billionaire media mogul Michael Bloomberg, the former mayor of America's largest city, jumped into the race for the Democratic U.S. presidential nomination on Sunday as a moderate with deep pockets unabashedly aiming to beat fellow New Yorker Donald Trump in the November 2020 election.<br /><br />Bloomberg's belated entry into the race - just three months before the first of the state-by-state party nominating contests - reflects his skepticism that any of the other 17 Democratic candidates can unseat the Republican president.<br /><br />He will face significant disadvantages because of his late start, which means he will be playing catch-up with rivals who have been putting together campaign staffs for months.
