With fewer than 100 days until the first caucus in Iowa, the billionaire technocrat’s decision to enter the race—a choice that has yet to be announced officially—could upend all the current front-runners’ campaign strategies. Bloomberg, 77, a former Republican and the three-term mayor of New York City, has been an outspoken critic of some of the Democratic candidates’ far-left agendas, and wields financial resources no one else in the race can match.
Bloomberg’s likely entry carries the biggest immediate threat for former Vice President Joe Biden, who had carved out a comfortable spot as a middle-of-the-road alternative to the two top liberal contenders, Sens. Elizabeth Warren and Bernie Sanders.
South Bend, Ind., Mayor Pete Buttigieg, who had also recently risen in the Iowa polls, would also likely lose some of his moderate supporters to a Bloomberg candidacy.