Alderman Michael J. Bloomberg of New York, who is also a Democrat, announced on Thursday that he will not be a candidate for president in 2020.
Bloomberg will instead endorse a Democratic presidential nominee.
He did not say when that would be.
The announcement by the city’s first black mayor was one of the first of its kind in the country and the most high-profile in a country where the Democratic Party is historically dominant.
The comments were not widely reported in the Democratic-leaning state.
The New York Post reported that Bloomberg said: “I don’t think it’s wise for us to elect a president who has been a political neophyte and who has never run for office.”
The announcement from Bloomberg came after he appeared with Democratic presidential candidate Bernie Sanders at a rally in New York City.