Miami Mayor Francis Suárez joins the Republican presidential race

Francis X. Suárez, the Miami mayor who has overseen a tech-fuelled economic boom in the city, became a new Republican contender for president, according to a document filed with the Federal Election Commission.

Suárez, a 45-year-old Cuban-American, is in his second term as mayor and lacks recognition outside of South Florida, though he has worked to build his national profile in recent months by appearing at conservative forums and traveling to early states in the Republican primaries.

He is the only Hispanic candidate in the Republican ranks and the third candidate from Florida along with favorite Donald Trump and the state governor, Ron DeSantis.

Suárez drew criticism after defending cryptocurrency companies such as bankrupt FTX, which bought the naming rights to the city’s basketball stadium but was later forced to relinquish it.

Suárez endorsed a Miami-branded digital currency that is now worth close to zero.

However, during his tenure, Miami has seen an influx of more traditional tech companies and wealthy investors, many of whom are fleeing more rigid regulatory environments. The construction boom has also helped revive the city’s reputation as a premier international tourist destination.

Suarez has had thorny relationships with both Trump and DeSantis. He did not endorse Trump in his 2020 re-election bid and was critical of some of DeSantis’s policies tied to the COVID pandemic.

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