Watch Michael Bloomberg's DNC Speech: Rips 'Demagogue' Donald Trump And Endorses Hillary Clinton

Politically independent billionaire Michael Bloomberg endorses Hillary Clinton at Democratic National Convention and attacks Donald Trump.

Bloomberg urged people at the DNC to register as voters and begins his speech by letting it be known that this election is bigger than political party loyalty:

"I've been a Democrat. I've been a Republican. And I eventually became an independent because I don't believe either party has a monopoly on good ideas or good leadership," said the former mayor of New York.

Michael Bloomberg called Donald Trump a "dangerous demagogue" and urged the American people to unite around Hillary Clinton to take out Trump during his DNC speech. The New York billionaire also took a dig at Trump's business acumen:
"I built a business and I didn't start it with a million-dollar check from my father."
Michael Bloomberg's net worth is $40.9 billion, and his fortune primarily comes from Bloomberg L.P., a global financial data and media company. On the other hand, Donald Trump's net worth is a matter of controversy. Trump estimates his net worth to be over $10 billion, but experts state that it is about $4.5 billion at most.
With little political experience, Donald Trump has stated that his skills as a businessman are what will take the country forward. Trump has stated on many occasions that being President of the United States will not be so different from running a business.

However, many have criticized Trump's skills as a businessman, many see him as an opportunist who has managed to make money when his businesses are failing. Many political analysts have doubts whether he could have built the business without an inheritance from his father.

This criticism carries more weight when it comes from another successful business man with no party allegiance.

The former New York Mayor attacked Donald Trump's "record of bankruptcies," "cheated contractors," and unsatisfied customers, which is most likely a dig at the Trump University lawsuits.

Bloomberg ripped Donald Trump's record as a businessman.

"Trump says he wants to run our nation like he runs his business? God help us," Bloomberg said to loud applause from the Democratic crowd.

"I'm a New Yorker and I know a con when I see one."
After listing Donald Trump's hypocritical business practices, such as hiring undocumented workers, exploiting overseas low wage employees, and manipulating visa restrictions. Bloomberg concluded that "the richest thing about Donald Trump is his hypocrisy."
Michael Bloomberg praised Hillary Clinton as someone who listens and understands the role of president, while acknowledging that they do not agree on many political positions.

The billionaire declared that there is only one "sane and competent" candidate in the elections and urged independents to go with Hillary Clinton.

He described Trump as a "risky, reckless, and radical choice" and suggested that the consequences of a Trump presidency may be a price too high for the American people.

Donald Trump is yet to respond to Michael Bloomberg's political attacks on Twitter. Many political spectators view Michael Bloomberg's endorsement of Hillary Clinton as one of the most impactful.

The once Republican mayor of New York is not endorsing Hillary Clinton due to party allegiance. This makes the support more genuine and motivated out of fear of a Donald Trump presidency.

How this will impact independent votes is yet to be determined. However, Hillary is likely to get a big boost in the polls after the DNC event.

Like many speakers at the DNC, Bloomberg spoke of unity among Americans and reassured the people that America is a great country.

Bloomberg held the voters accountable for making a decision for their children and future generations: "your votes matter now," stated the former Mayor.

"There is no doubt in my mind, that Hillary Clinton is the right choice this November," Bloomberg said, and the crowd roared in applause.

What do you think of Michael Bloomberg's DNC speech? What impact do you think it will have on the polls? Leave your comments below.

[Photo by Aaron P. Bernstein/Getty Images]