Trump said Bloomberg has unspecified "issues", calling him a "nothing" who will actually hurt the chances of Democratic front-runner Joe Biden. "I can't really talk about elections too much, obviously, because of the Hatch Act, but at the White House we're not anxious about anybody who's going to run against this president".
Bloomberg, a Republican-turned-Independent who registered as a Democrat a year ago, has flirted with a presidential run before but ultimately backed down, including in 2016. But the two party leaders added they "are certain" voters in their states and other early states "are eager to ask Michael Bloomberg about his plans to move our states and our country forward".
It's a strategy that acknowledges the limitations of entering the race at this late stage and the opportunities afforded by the billionaire's vast personal wealth.
The next question is whether it's reasonable to expect Bloomberg to find a sizable number of Democratic primary voters who'd rally behind him. Michael Bloomberg is mulling a run for president in 2020 and said would make a decision in the coming weeks. Bloomberg promised earlier this year he wasn't going to run for president.
The 77-year-old has spent the past few weeks talking with prominent Democrats about the state of the Democratic campaign, expressing concerns about Joe Biden and the rise of liberal firebrand Elizabeth Warren.
In each instance, things didn't quite work out for the Republican-turned-independent-turned-Democrat, and six months ago, Bloomberg conceded that he wouldn't be a candidate in the 2020 election cycle, either.
Warren, and Sanders too, have made taking on the wealthiest Americans central to their platforms.More news: Jurgen Klopp reassures Manchester City over Anfield bus fears
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"He's a grenade, chucked right into the Democrat race", Varney said.
Bloomberg would face other challenges as well, particularly scrutiny of his three terms as mayor.
Warren on Thursday tweeted: "Welcome to the race, @MikeBloomberg!" and linked to her campaign website, saying he would find there "policy plans that will make a huge difference for working people and which are very popular".
The billionaire media mogul, who has not formally confirmed his candidacy, submitted on Friday the documents to meet Alabama's filing deadline.
"If we run, we are confident we can win in states voting on Super Tuesday and beyond, where we will start on an even footing", Mr Wolfson said.
In any event, the Democratic contenders should keep their eyes on the other NY billionaire, the one scuttling the Constitution, paying a $2 million fine for running a scam foundation ("The president admitted, among other things, to improperly arranging for the charity to pay $10,000 for a 6-foot portrait of him") and facing impeachment for soliciting a bribe from Ukraine.
There is no filing requirement for a candidate to run in the Iowa caucuses, which are a series of Democratic Party meetings, not state-run elections.