NEW YORK (FOX NEWS) - Michael Bloomberg, the self-made billionaire and former New York City mayor, is reportedly making plans to run for president as a Democrat in 2020.
The Times of London, citing an unnamed source, reported Thursday that Bloomberg has been having the discussion with his inner circle. The former Republican mayor -- whose net worth is reportedly $52.2 billion -- would be able to bankroll his own campaign while “other candidates have to knock themselves out,” the source said.
It was previously reported that Bloomberg planned to spend at least $80 million to help the Democratic Party in the upcoming November elections.
Bloomberg told the Washington Post earlier this summer that Republicans have not delivered results while controlling both the House and Senate, and he argued that a change in power was necessary for members of Congress to reach across the aisle to solve the issues plaguing the country.
Bloomberg supported Hillary Clinton in 2016, and reportedly called Trump a “dangerous demagogue.”
"Trump says he wants to run the nation like he’s run his business," Bloomberg said in 2016. "God help us. I’m a New Yorker, and I know a con when I see one."