Trump remarks on Michael Bloomberg entering presidential race

Sources close to the New York billionaire said he's considering a 2020 run, while Donald Trump said Bloomberg didn't have the "magic to do well."
2:25 | 11/09/19

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Transcript for Trump remarks on Michael Bloomberg entering presidential race
And president trump also making news with his reaction to news that Michael Bloomberg may enter the presidential race. The former mayor and billionaire had sharp words for then-candidate trump. Trump firing back before Bloomberg officially decides he's running. Here's Jonathan Karl. Reporter: President trump today dismissed the prospects of a presidential campaign by fellow New York billionaire Michael Bloomberg, offering up a familiar nickname. He doesn't have the magic to do well. He will not do very well. And if he did, I'd be happy. There is nobody I'd rather run against than little Michael, that I can tell you. Reporter: Sources close to Bloomberg say he is considering a run in part out of fear Democrats may nominate Elizabeth Warren, who he believes would have a tough time beating Donald Trump. For her part, Warren suggested Bloomberg would try to buy the election. I don't think that big money ought to be able to buy our elections. Reporter: Bloomberg's move comes amidst concerns among Democrats that former vice president Joe Biden's campaign is losing momentum. I have no problem with him getting in the race. And in terms of his running because of me, the last polls I looked at, I'm pretty far ahead. Reporter: Meanwhile, the "Washington post" obtaining a copy of the book my anonymous, claiming several officials considered a midnight self-mass consider. Resigning en masse, but deciding not to because it would cause chaos. The author also describes trump acting "Like a 12-year-old in an air traffic control tower, pushing the buttons of government indiscriminately, indifferent to the planes skidding across the runway and the flights frantically diverting away from the airport." The white house calls the author a coward, calling the book a work of fiction. Jon, any indication when Bloomberg may make his decision official? Reporter: Indications are that he has already made the decision, and an official announcement is expected in another few weeks. Jon, thank you. Next to an alleged plot to attack a middle school in upstate New York.

This transcript has been automatically generated and may not be 100% accurate.

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