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New York Mayor Bill de Blasio announces 2020 presidential bid

NEW YORK — New York City Mayor Bill de Blasio has announced he is running for president in 2020.

In a campaign video posted to his official YouTube account early Thursday, the Democrat pledged to "put working families first."

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"There's plenty of money in this world," De Blasio, 58, said in the video. "There's plenty of money in this country; it's just in the wrong hands."

De Blasio, who took office as mayor in 2014, also touted his accomplishments, including bringing a $15 minimum wage to city workers and implementing universal pre-K.

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He also argued that he can beat President Donald Trump.

"I'm a New Yorker; I've known Trump's a bully for a long time," he said. "This is not news to me or anyone else here, and I know how to take him on."

He continued: "As president, I will take on the wealthy. I will take on the big corporations. I will not rest until this government serves working people. As mayor of the largest city in America, I've done just that."

De Blasio, the 23rd candidate to announce he is seeking the Democratic nomination for president in 2020, also is scheduled to appear on ABC's "Good Morning America" Thursday morning, the network reported.

The married father of two has a bachelor's degree from New York University, where he majored in metropolitan studies, and a master's degree in international affairs from Columbia University.

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Check back for updates to this developing story.