Billionaire Michael Bloomberg who joined the Presidential race on Sunday faced a blistering attack by Democratic presidential aspirant Elizabeth Warren.

On Monday, Warren accused the media mogul of “trying to buy American democracy” by launching the White House bid with a $37 million TV advertising blitz.

Bloomberg, the 77-year old former New York mayor jumped into the 2020 polls fray as a moderate Democrat on Sunday.

Warren, the liberal senator from Massachusetts was addressing voters in Ankeny, Iowa.

Attacking “Bloomberg’s tactics,” Warren said: “Michael Bloomberg is making a bet about democracy in 2020. He doesn’t need people; he only needs bags and bags of money. I think Michael Bloomberg is wrong.”

If Michael Bloomberg’s version of democracy wins then democracy changes and it will be like “which billionaire you can stomach,” noted Warren.

Bloomberg has already stated that he will not accept donations and would rely on his resources to run the campaign. Warren is known for her scathing criticism of corporate America and advocacy of wealth tax on billionaires.

Bloomberg’s campaign did not react to Warren’s remarks. However, Bloomberg defended using personal wealth to support his candidacy during the first campaign event in Norfolk, Virginia.

“For years I’ve been using my resources for the things that matter to me,” Bloomberg said. “I am going to make my case and let the voters who are plenty smart make their choice.”

Meanwhile, yet another Democrat aspirant Sen. Bernie Sanders also slammed Bloomberg's multimillion-dollar advertising and said he was “disgusted by the idea that Michael Bloomberg or any other billionaire thinks they can circumvent the political process and spend tens of millions of dollars to buy our elections."

Trump is winning, says Bloomberg

During his first public appearance on Monday after joining the poll race, Bloomberg told reporters at Norfolk, Virginia that President Trump stands a better chance of being re-elected and added, ‘I just cannot let this happen.”

Bloomberg’s statement narrated his skills and experience that will appeal to voters.

According to Fox News, Bloomberg's campaign manager Kevin Sheeky also said the same thing. “Right now, Donald Trump is winning. It’s very tough for people who don’t live in New York or California to understand that, but that is what’s happening.”

According to reports, Bloomberg’s belated entry into the presidential race, barely three months before the Democrats’ nominating contests is borne out of the concern that none of the 17 Democrat candidates hoping to take on Donald Trump can beat him.

Perry calls Trump “chosen one”

Meanwhile, outgoing Energy Secretary Rick Perry complimented President Trump as God’s “chosen one.” Perry himself stated this in an interview on “Fox and Friends,” per CBS news.

Perry, reportedly told Trump: “Mr. President, I know there are people who say you were the chosen one. If you're a believing Christian you understand God's plan for the people who rule and judge over us on this planet in our government.”

Former New York City Mayor Michael Bloomberg has confirmed he is running for president
Former New York City Mayor Michael Bloomberg has confirmed he is running for president AFP / Timothy A. CLARY