Former White House chief strategist Steve Bannon narrowed the 2020 presidential race down to “oligarch” billionaire Michael Bloomberg and President Donald Trump.

Speaking on PBS’ Firing Line with Margaret Hoover Friday, Bannon said “2020 is going to be the nastiest election in American history” as Bloomberg prepares to “buy” the Democratic Party in an effort to defeat Trump. Bannon referred to the former mayor of New York City as an “oligarch,” but defended the president as simply a “real estate developer” and a “TV personality” who rose to the top of politics by appealing to abandoned working-class voters. He also warned that the hundreds of millions of dollars Bloomberg is prepared to spend on data and turning out the vote over the next eight months is placing the country in dangerous hands.

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Bannon said the Democratic Party is “absolutely” for sale — and Bloomberg is the buyer. “I think you’re seeing the rise of oligarchs. It’s Bloomberg versus Trump,” he said of the 2020 election.

“President Trump is going to win. But President Trump every day is going to be a struggle just for the simple reason that no one’s ever had an oligarch that opposed the sitting president,” Bannon said. “This is going to be a populist versus an oligarch.”

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