Rep. John Delaney of Maryland says he’s running for president, instead of governor or re-election, in 2018.

Delaney, a Democrat, announced his plans in a statement Friday.

The politically moderate banking entrepreneur is in his third term in Maryland’s 6th Congressional District, which includes western Maryland and a large section of Montgomery County, the state’s largest county.

The 54-year-old is worth roughly $90 million and is one of the House’s wealthiest members. He spent about $2 million to help finance his first House race in 2012.

His consideration of a possible Maryland gubernatorial bid months ago quickly drew interest in his House seat. Several candidates already have expressed interest in running for the seat.