Michael Bloomberg — the self-made billionaire who spent $90 million of his own money to beat back a Tea Party opponent in New York City’s 2005 mayoral race — sounded like Bernie Sanders, as well as Hillary Clinton, on Monday as he announced a plan to blunt the political rise of President Donald Trump.

“We must do everything in our power to resist his agenda and take back our country,” Bloomberg said in a statement. “We must weaken his power, beat him when he’s on the ballot, expose him and defend our values.”

Bloomberg, a billionaire philanthropist and former mayor of New York, announced his intention to create a Super PAC, called Independence USA PAC, to use cash from his own money and to support a broad-based “minority alliance” to promote progressive policies, including progressive taxation and regulation.

And Bloomberg insisted that he would not join the race for the 2020 Democratic presidential nomination.

“Given that I will be 77 years old this fall, my chances of being elected president are far smaller than they were 12 years ago, and the current candidates are far weaker than those who fought me,” he said.