Michael Bloomberg is preparing to run for president in 2020 as a Democrat

According to reports, billionaire Michael Bloomberg (pictured on Thursday) is preparing to run for president in 2020 as a Democrat

Billionaire Michael Bloomberg is preparing to run for president in 2020 as a Democrat

  • The 76-year-old man told confidants he plans to challenge Donald Trump
  • Bloomberg has thought about running before but has not done it yet
  • The former mayor of New York has the money to carry it out, said a source

Khaleda Rahman for Dailymail.com

According to reports, billionaire Michael Bloomberg is preparing to run for president in 2020 as a Democrat.

The 76-year-old man told confidants he plans to challenge Donald Trump in 2020, reports The Times.

"Mike Bloomberg told me he's going to run in 2020," a source told the newspaper.

"He has the money to take it out while other candidates self-destruct."

According to reports, billionaire Michael Bloomberg (pictured on Thursday) is preparing to run for president in 2020 as a Democrat

According to reports, billionaire Michael Bloomberg (pictured on Thursday) is preparing to run for president in 2020 as a Democrat

Bloomberg, the founder of financial software firm Bloomberg LP, has a net worth of $ 52.6 billion, according to Forbes.

Rumors of Bloomberg's impending presidential candidacy are seemingly swirling throughout the election cycles, but the three-term mayor of New York City has not yet turned up.

According to reports, Bloomberg considered running as an independent in 2012, but decided not to fear that it would split the Democratic vote.

In January 2016, Bloomberg confirmed for the first time that he was reflecting on whether to run for president. Three months later, he announced that he would not run.

Sources have said that Bloomberg regretted having decided not to appear in 2016 because he believes he could have won or prevented Donald Trump (pictured) from winning.

Sources have said that Bloomberg regretted having decided not to appear in 2016 because he believes he could have won or prevented Donald Trump (pictured) from winning.

Sources have said that Bloomberg regretted having decided not to appear in 2016 because he believes he could have won or prevented Donald Trump (pictured) from winning.

He supported Hillary Clinton as president and said it was "the right choice" in a speech at the Democratic National Convention.

In June, he reportedly told associates that he is "accelerating" by 2020.

A source close to Bloomberg told CBS2 that Bloomberg regretted deciding not to show up in 2016 because he believes he could have won or prevented Trump from winning.

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