Michael Bloomberg 'Will Not Enter' 2016 Presidential Race

PHOTO: Michael Bloomberg attends Jazz at Lincoln Centers Ertegun Atrium and Ertegun Hall of Fame grand reopening at Jazz at Lincoln Center on Dec. 17, 2015 in New York. PlayAndrew Toth/FilmMagic/Getty Images
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Billionaire businessman and former New York Mayor Michael Bloomberg wrote in an op-ed today that he will not be running in the 2016 presidential election.

In the op-ed, Bloomberg admitted that being a 2016 presidential candidate is “not a risk” he could take “in good conscience."

“As the race stands now, with Republicans in charge of both Houses, there is a good chance that my candidacy could lead to the election of Donald Trump or Senator Ted Cruz,” Bloomberg wrote. “That is not a risk I can take in good conscience.”

He added: “I could not win. I believe I could win a number of diverse states -- but not enough to win the 270 Electoral College votes necessary to win the presidency.”

"I love our country too much to play a role in electing a candidate who would weaken our unity and darken our future -- and so I will not enter the race for president of the United States," Bloomberg wrote.

Bloomberg also used his op-ed to attack Donald Trump, arguing the Republican front-runner "appeals to our worst impulses" and he is running the "most divisive and demagogic presidential campaign I can remember."

He wrote that he's not ready to endorse a candidate yet.

Bloomberg had toyed publicly with a run since January, deliberating about the dollars and infrastructure required for ballot access in all 50 states.

A source close to Bloomberg told ABC News last week that that the odds of Bloomberg running for president were “very, very low -- almost zero."

A new poll from Siena College out this morning showed Bloomberg struggling even to win in his home state of New York, where Hillary Clinton and Donald Trump both have deep roots.