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Donald Trump announces candidacy for president

Donald Trump makes presidential candidacy official
Donald Trump makes presidential candidacy official

Billionaire real estate developer Donald Trump announced his candidacy for president on Tuesday. The field has grown increasingly crowded as candidates formally begin campaigning for the 2016 election. (Tweet This)

Trump also released on Tuesday a series of financial documents concerning his total assets and a net worth of $8.7 billion.

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In a press release he said: "Quite simply, it is time to bring real leadership to Washington. The fact is, the American Dream is dead—but if I win, I will bring it back bigger and better and stronger than ever before. Together we will Make America Great Again!"

Trump announced that he will begin his campaign by visiting Iowa on Tuesday, followed by New Hampshire and South Carolina later this month. His campaign headquarters will be in New York City.

After the announcement, NBC released a statement saying: "We will re-evaluate Trump's role as host of 'Celebrity Apprentice' should it become necessary, as we are committed to this franchise."

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Disclosure: NBC Universal is the parent company of CNBC.