Former New York City Mayor Michael Bloomberg has announced that he is launching his presidential campaign in a online video posted on Sunday morning.

Bloomberg said is interested in tackling income inequality, health care, climate change, gun violence and raising taxes on the wealthy. The billionaire Bloomberg has decided to personally invest hundreds of millions of his fortune in the race.

His Democratic opponents have voiced scepticism. Sen. Bernie Sanders (D-Vermont), for one, said he believes Bloomberg will not last long in the presidential race.