Photo:VCG

Former mayor of New York City Michael Bloomberg launched a video ad Sunday to formally announce his campaign for president in the 2020 US election.

The minute-long campaign ad portrayed the 77-year-old media mogul as "jobs creator, leader, problem solver."

The announcer said in the ad that Bloomberg, who runs as a Democrat, will let the wealthy pay more in taxes, the middle class get their fair share and everyone be able to get health insurance.

The ad also highlighted the billionaire's efforts to restore New York after the 9/11 terrorist attacks in 2001, as well as his resolve to tackle climate change.

"I'm running for president to defeat Donald Trump and rebuild America," Bloomberg said in a tweet to which the ad was attached.

"I believe my unique set of experiences in business, government, and philanthropy will enable me to win and lead," he added in the tweet, in which he also provided the link to his campaign website.