Donald Trump has officially joined 11 other Republican candidates in the race to become America's next president. Trump made the announcement from his namesake Plaza in New York City today. "Ladies and gentlemen, I am officially running for president of the United States, and we are going to make our country great again," he said at the outset of his hour-long speech, NBC reports. In his announcement, Trump promised to support gun rights, Medicare, Medicaid, and Social Security. He also promised to "immediately terminate" the landmark immigration reforms President Obama announced via executive order last year. The Democratic National Convention (DNC) released a statement regarding Trump's candidacy. "He adds some much needed seriousness that has previously been lacking from the GOP field, and we look forward to hearing more about his ideas for our nation," the statement read. Trump has threatened to run for office before. Rumors that the mogul might be considering Washington first spread in 1988, resurfaced in 2000, and were reignited once again in 2004 and 2008. In 2006 and 2014, Trump reportedly considered a gubernatorial bid. Along with his announcement, Trump released a breakdown summary of his alleged $9-billion net worth. Of the grand total, over $14 million is stocked in the Miss Universe, Miss USA, and Miss USA Teen Pageants.