New York Mayor rules himself out of running for US President

Michael Bloomberg was tipped to announce as an Independent candidate - he has now ruled that out

Newstalk, Michael Bloomberg New York Mayor, US President, Donald Trump, Ted Cruz, Bernie Sanders, Hillary Clinton

File photo: Former New York Mayor and UN special envoy for cities and climate change Michael Bloomberg. Picture by: Bebeto Matthews / AP/Press Association Images

Former mayor of New York, Michael Bloomberg, has revealed he will not run for US President.

He does not believe he could win, and he does not want to split the vote.

Bloomberg says he is afraid of handing The White House to Republican hopefuls Donald Trump or Ted Cruz.

It was previously reported that Michael Bloomberg was considering launching an independent campaign.