NEW YORK (NewsNation Now) — Andrew Yang, an entrepreneur and former 2020 U.S. presidential contender, formally announced his candidacy for mayor of New York on Wednesday.

“I moved to New York City 25 years ago. I came of age, fell in love, and became a father here. Seeing our City in so much pain breaks my heart,” Yang said in a statement. “Let’s fight for a future New York City that we can be proud of – together.”

Yang, who had no background in electoral politics, built an ardent grassroots following in the race to become the Democratic Party’s nominee for the presidency with his pledge to create a universal basic income that would pay every American $1,000 a month.

He continued his pledge for a universal basic income in his mayoral announcement.

We need to launch the largest basic income program in history, invest in a human-centered economy, return to fact-based governance, and create an accessible healthcare system. We need to do all this while enacting accountable and smart policing, building affordable housing, closing our city’s digital divide, modernizing transportation and city services, and more. We will move New York forward – together

Andrew Yang

Yang ended his presidential campaign in February of last year after poor numbers in the first two state primary contests in Iowa and New Hampshire.

More than a dozen other candidates have already declared candidacy, including Brooklyn Borough President Eric Adams, New York City Comptroller Scott Stringer, and Maya Wiley, a civil rights activist and lawyer who previously worked for Bill de Blasio.

De Blasio, a Democrat, is nearing the end of his second and final term. Registered Democrats will vote for their nominee on June 22, 2021, ahead of the general election on Nov. 2.

If elected, Yang would be the city’s first Asian-American mayor.