Michael Bloomberg Is One Step Closer to Entering the 2020 Presidential Race

Did Michael Bloomberg, former three-time mayor of New York City, wake up on the morning of October 22 and decide to throw his hat in the ring? On that day, the New York Times published an article that described the misgivings many Democrats were reportedly experiencing as they examined their roster of candidates, none of whom seemed a clear option to defeat President Trump in 2020.

Today, Bloomberg filed papers declaring himself a Democratic presidential candidate. However, the Washington Post reports, it “was a step toward running for president, following several state ballot registrations, but not an official announcement or public signal that he had made a final decision.”

Earlier in November, the Times reported that Bloomberg was laying the groundwork for a campaign, being “expected to file paperwork this week in at least one state with an early deadline.” Bloomberg had also reportedly been talking to prominent politicians about a possible run, and sent staffers to Alabama to hurriedly gather signatures in order to get his name on the ballot before that state’s filing deadline.

Bloomberg has ridiculously deep pockets—he is worth upwards of $50 billion—and a frank confidence: He gave an excellent speech at the 2016 Democratic convention in which he said, “I’m a New Yorker, and New Yorkers know a con when we see one! […] Truth be told, the richest thing about Donald Trump is his hypocrisy.”

Could Bloomberg really be the Democrats’ secret weapon, the best one to best Trump? And what will the electorate make of the potential Battle of the Rich Old White Guys? Bloomberg, an erstwhile Republican who switched his party affiliation last year, will no doubt situate himself in the lane currently occupied by Joe Biden—a moderate who promises to restore sanity to our political process, if little else. He will be a foil for Sanders and Warren, since we are pretty sure that Medicare for All will not be his platform. In fact, at this juncture, we aren’t sure where he stands on a lot of things—we do know that he is not in favor of a wealth tax that would fall heavily on guys like him (no surprise). He’s a strong proponent of gun control, though he is also a supporter of police stop-and-frisk tactics. But foreign policy? Immigration? The Green New Deal? Who knows.

At this point, a lot of Democratic voters may be shrugging their shoulders and saying, “Who cares where he stands, as long as he can maybe beat Trump?” And can you blame them? Because even if you don’t find a certain candidate’s positions particularly appealing—you are disgusted by their wishy-washiness! You are infuriated when they want to go too fast, or too slow!—in the end, you know that in 2020, more than ever before, winning is not everything: It is the only thing.

Watch Now: Vogue Videos.

Originally Appeared on Vogue