Billionaire Donald Trump on Tuesday formally announced his bid for the 2016 Republican presidential nomination, ending years of speculation that the U.S. real estate mogul and TV reality star would one day enter politics.

"I am officially running for president of the United States and we are going to make our country great again," he told the cheering crowd, which gathered at Trump Tower on New York's Fifth Avenue Tuesday morning.

In a lengthy speech to supporters, Trump spoke on immigration, Obamacare, the U.S. economy and foreign policy, promising that "I will be the greatest jobs president that God ever created."

Waving a piece of paper with details of his wealth, Trump announced that he had a total net worth of more than 8.7 billion U. S. dollars -- more than double Forbes' estimate of 4.1 billion dollars.

Trump, born in 1946, is the chairman and president of The Trump Organization and the founder of Trump Entertainment Resorts. His outspoken manner, and role on the NBC reality show The Apprentice have made him a well-known celebrity who ranked No. 17 on the 2011 Forbes Celebrity 100 list.

With his official announcement, Trump became the 12th candidate to throw his hat into the Republican ring which is expected to become even more crowded before the first televised debate of the party in August.

The number of Republicans getting in this year is unprecedented. They may not have the poll numbers, campaign cash, or support of party leaders, but with a wide-open primary and no obvious front- runner, many would like to give it a try, according to local media report.

"There's an advantage in running for president, in writing books, in appearing on TV shows and getting speeches," GOP strategist Frank Luntz was quoted by CBS News as saying. "Arguably you lose about a year's worth of income and you get as much as 10 years in value." Endite

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