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Bloomberg will sell company if elected, adviser says

Bloomberg will sell company if elected, adviser says
© Bill Pugliano/Getty Images

An adviser to Democratic presidential hopeful Mike Bloomberg's campaign said Tuesday that the former mayor would sell his company, Bloomberg LP, if elected president, and that he would release his tax returns as a candidate.

"Mike will release his tax returns," adviser Timothy O'Brien told CNN's Christiane Amanpour. "Mike will also sell Bloomberg LP. There will be no confusion about any of his financial holdings, blurring the line between public service and personal profiteering."

The adviser sought to draw a contrast between Bloomberg and President TrumpDonald John TrumpVenezuela judge orders prison time for 6 American oil executives Trump says he'll leave White House if Biden declared winner of Electoral College The Memo: Biden faces tough road on pledge to heal nation MORE, who has faced intense scrutiny for not releasing his tax returns and for maintaining ownership of his business empire after entering office.

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Trump announced before becoming president that he would put his business holdings in a trust operated by his adult sons while he was in office.

"He will be 180 degrees away from where Donald Trump is on these issues because Donald Trump is a walking financial conflict of interest," O'Brien said of Bloomberg.

Bloomberg's Democratic opponents have hit the billionaire businessman in recent days, going after him for bankrolling his campaign with his personal fortune.

Sen. Elizabeth WarrenElizabeth WarrenThe Memo: Biden faces tough road on pledge to heal nation Disney laying off 32,000 workers as coronavirus batters theme parks Kamala Harris, Stacey Abrams among nominees for Time magazine's 2020 Person of the Year MORE (D-Mass.) tied Bloomberg to Trump in a tweet on Tuesday, calling the former New York City mayor an "egomaniac billionaire." 

Bloomberg has also faced backlash for unearthed comments regarding the controversial policies of "stop and frisk" and redlining, a discriminatory housing practice that made it difficult for people in minority communities to obtain mortgages.

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Warren's fellow progressive presidential contender Sen. Bernie SandersBernie SandersThe Memo: Biden faces tough road on pledge to heal nation Clyburn: Biden falling short on naming Black figures to top posts Prepare for buyers' remorse when Biden/Harris nationalize health care MORE (I-Vt.) also went after Bloomberg on Saturday, claiming his past positions on certain policies would hinder his ability to gin up enthusiasm on the left to defeat Trump.

"We will not create the energy and excitement we need to defeat Trump if that candidate pursued, advocated for, and enacted, racist policies like stop and frisk, which caused communities of color in his city to live in fear," Sanders said.

While Bloomberg is not on the ballot in Nevada, which is holding its presidential caucuses Saturday, he is set to face off with the other Democratic contenders during a debate Wednesday night in Las Vegas.

Updated at 6:50 p.m.