NEW YORK (CBSNewYork/AP) -- He's in! Real estate mogul Donald Trump on Tuesday officially announced his candidacy for the 2016 Republican presidential nomination.
Trump made the announcement to a rally of cheering supporters gathered at Trump Tower on Fifth Avenue Tuesday morning.
"I am officially running for president of the United States and we are going to make our country great again," he told the crowd of hundreds. Many were wearing T-shirts that said "Make America Great Again" and holding signs saying "I Believe In Trump!"
He's the 12th high-profile Republican to enter the 2016 race, with more to come in the weeks ahead.
"All of my life, I have heard, a truly successful person, a really successful person, and even a modestly successful person, cannot run for public office, just can't happen," Trump said. "Yet that's the kind of mindset you need to make this country great again."
As CBS2's Dick Brennan reported, Trump got off right away running, bragging, bashing and trash-talking his way into the Republican race. He has big plans, but little use for what politicians have done in America.
"How stupid are our leaders? How stupid are they to allow this to happen?" he said. "We have people that are stupid. We have people that aren't smart. We have losers. We have people that don't have it. They don't have a clue. They can't lead us."
One thing Trump said he has is money -- and lots to spend.
"I'm not using donors, I don't care," he said. "I'm really rich."
And Trump did lay out a very clear agenda:
"I will be the greatest jobs president that God ever created. I tell you that," he said. "I've employed tens of thousands of people over my lifetime."
Donald Trump Announces 2016 Presidential Bid
Before the big announcement, the businessman and reality television star was introduced by his daughter Ivanka and came down an escalator with his wife Melania to the song "Rockin' In The Free World" by Neil Young.
In his rambling speech to supporters, Trump took on immigration, President Barack Obama's health care overhaul and the economy.
"We have to repeal Obamacare," he said. "A $5 billion website? I have so many websites I have all over the place. I hire people. They do a website, it costs me $3."
He also talked about bringing back outsourced jobs.
"I'll bring back our jobs from China, from Mexico, from Japan, from so many places. I'll bring back our jobs and I'll bring back our money," he said. "Right now, think of this. We owe China $1.3 trillion. We owe Japan more than that. So they come in and they take our jobs, they take our money and then they loan us back the money and we pay them interest and then the dollar goes up so their deal is even better. How stupid are our leaders?"
In his well-known bombastic style, he mixed boasts about his wealth with promises to defeat effortlessly the Islamic State group and negotiate trade deals with China.
"Sadly, the American dream is dead," Trump said. "But if I get elected president, I will bring it back bigger and better and stronger than ever before, and we will make America great again."
He also invited Obama to play at his golf course, 1010 WINS' Juliet Papa reported.
Trump was also required to release a personal financial disclosure that includes his net worth, sources of income, liabilities and assets. He also has to reveal the same information for his wife and dependent children.
Trump was ready to do so. On Tuesday, he shared details about his personal finances, revealing a net worth of $8.7 billion.
The financial disclosure, required of all candidates for president, was thought to be the final obstacle blocking Trump from launching a 2016 campaign.
It was a speech that drew immediate scorn online from a series of Republicans, who fear Trump will turn an otherwise serious Republican primary contest into a circus.
"I just apologized to my toddler for bringing him up in a country where Donald Trump runs for Prez, gets better than 2% in the polls," veteran Republican strategist Liz Mair tweeted.
Republican operative Brendan Buck, who previously worked on Mitt Romney's presidential campaign and now works for Rep. Paul Ryan (R-Wis.), tweeted: "Who do I blame for Trump running for president. Whose fault is this?"
The Democratic National Committee was just as sarcastic on Twitter: "He adds some much needed seriousness that previously been lacking from the GOP field, and we look forward (to) hearing more about his ideas for the nation."
Democratic strategist Hank Sheinkopf said GOP opponents should be worried.
"Donald trump is the worst nightmare that these Republican candidates could have," he said. "He doesn't car. He'll say whatever is on is mind. He's an insurgent; he'll challenge the establishment. And he will make them nuts at debates."
And New Yorkers had mixed feelings.
"I like him; his personally," said Olivia McCray, who added that for president, "I don't know; would he be any worse?"
"It's absurd. It's ridiculous. It's ludicrous. It's preposterous," said David Brune of the Upper West Side. "But good luck Donald."
Meanwhile, based on guidelines recently announced by the television networks, Trump could play a prominent role in the upcoming nationally televised Republican debate in August.
Those who rank in the top 10 in national polls, and Trump currently does, although he's close to the bottom, will earn a place on the debate stage. That could place Trump in a debate alongside leading candidates such as Wisconsin Gov. Scott Walker, Florida Sen. Marco Rubio and former Florida Gov. Jeb Bush, who formally launched his candidacy on Monday.
But the latest Monmouth University poll Monday found that undecided is the most popular response when Republican voters nationwide are asked whom they support as their party's leader.
"You would be hard pressed to look at these results and identify an emerging top tier in the Republican field, let alone a so-called front-runner," said Patrick Murray, director of the Monmouth University Polling Institute in West Long Branch, New Jersey.
After forming a presidential exploratory committee in March, Trump said he hired political operatives on the ground in Iowa, New Hampshire and South Carolina. He has also been a frequent visitor to the early voting states in recent months.
He also said he would not renew his contract with NBC for his reality show, "The Apprentice.'' He cannot appear on the network and run for president at the same time.
(TM and © Copyright 2015 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2015 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
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