Former New York City Mayor Michael Bloomberg says he will not enter the presidential race.

In an article for "Bloomberg View," he explained that in a three person race, no candidate would likely win a majority of electoral votes and that his candidacy could possibly lead to Donald Trump or Ted Cruz being elected. He says that's a risk that he couldn't take in "good conscience."

Bloomberg slammed Trump for running "the most divisive and demagogic" presidential campaigns he can remember, adding that the GOP frontrunner is "preying on people's prejudices and fears."

He wasn't any kinder to Ted Cruz, saying some of the Texas senator's stances aren't any less extreme or divisive than Trump's.  (Metro Networks Inc.)