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Michael Bloomberg is too scared of a Trump presidency to run as an independent.

The former New York City mayor announced via an op-ed in BloombergView that he would not be staging a third-party candidacy after months of dropping suggestions that he might enter the race.

Bloomberg’s rationale hinges a lot on political math. Were he to enter the race and draw any kind of support, the likeliest outcome would be that no candidate reaches the necessary 270 electoral-vote threshold, leaving the decision up to a Republican-controlled Congress. And that is a risk he is not willing to take.

“As the race stands now, with Republicans in charge of both Houses, there is a good chance that my candidacy could lead to the election of Donald Trump or Senator Ted Cruz. That is not a risk I can take in good conscience,” he said.