Dogged by rising negative poll numbers and a mocking press, real-estate mogul Donald Trump announced Monday that he would not be a candidate for president in 2012.

True to flamboyant form, the TV personality and hotel-casino owner declared, "If I were to run, I would be able to win the primary and ultimately, the general election."

But the Republican businessman added: "Ultimately, business is my greatest passion and I am not ready to leave the private sector."

Enthusiasm for Trump boomed and burst like a summer storm -- evaporating as quickly as it began. Just a month ago, he spiked in the polls as an alternative to the conventional politicians and policy wonks who crowd the GOP field.

Quickly gaining notoriety for his embrace of the "birther" issue involving President Barack Obama's birth certificate, Trump became a fixture on talk shows and a daily topic of conversation. But for largely the same reason, his poll numbers began to slide and his negative ratings soared.

Though never detailing his foreign or domestic policy positions beyond general critiques of George W. Bush and Obama, Trump ramped up speaking engagements. Last month, he headlined a tea party event in Boca Raton and had scheduled appearances in the early primary/caucus states of Iowa, New Hampshire and South Carolina.

Having toyed with presidential runs as far back as the 1990s, he had set a tentative date for a 2012 campaign announcement: May 25 in the atrium of Trump Tower in New York City.

But a growing legion of skeptics chalked up Trump's media blitz as an example of an overweening ego fueled by a mercenary desire to shop his brand name for commercial purposes.

Ultimately, amid sliding poll numbers and questions to come about his personal finances -- the casino owner's fortune after two bankruptcies is believed to be far less than advertised -- Trump's conservative appeal faded.

In a straw poll conducted last week by Tea Party Fort Lauderdale -- near his Palm Beach home -- Trump scored a dubious first ... among activists who listed him as their last choice.

Writing at RedState.com, Erick Erickson related that Trump last week expressed surprise over the "public scorn" related to his consideration of a presidential bid. Meanwhile, the New York Times and other news outlets started probing into lawsuits involving Trump.

All of this made "The Apprentice" increasingly testy in media appearances, culminating in a virtual "meltdown" on CNBC Friday morning, Erickson said.

Formally bowing out of consideration Monday afternoon, Trump issued this statement:

"After considerable deliberation and reflection, I have decided not to pursue the office of the presidency. This decision does not come easily or without regret; especially when my potential candidacy continues to be validated by ranking at the top of the Republican contenders in polls across the country.

"I maintain the strong conviction that if I were to run, I would be able to win the primary and ultimately, the general election. I have spent the past several months unofficially campaigning and recognize that running for public office cannot be done half-heartedly. Ultimately, however, business is my greatest passion and I am not ready to leave the private sector.

"I want to personally thank the millions of Americans who have joined the various Trump grass-roots movements and written me letters and e-mails encouraging me to run. My gratitude for your faith and trust in me could never be expressed properly in words. So, I make you this promise: that I will continue to voice my opinions loudly and help to shape our politicians’ thoughts. My ability to bring important economic and foreign policy issues to the forefront of the national dialogue is perhaps my greatest asset and one of the most valuable services I can provide to this country.