The Jewish billionaire businessman and three-term NY mayor said Wednesday he has registered as a Democrat, which would be especially significant if he decides to challenge President Donald Trump in 2020.
Bloomberg's re-registration with the Democratic Party sets the stage for a potential showdown with fellow NYC billionaire businessman Donald Trump in just two years.
'At key points in USA history, one of the two parties has served as a bulwark against those who threaten our Constitution.
He has entertained the idea of a presidential run before but never generated enough traction to establish himself as the kind of outsize political force his fellow NY billionaire has become. The New York Times reported last month Bloomberg is actively considering a 2020 presidential run as a Democrat - a notion that might explain his move Wednesday.
The change in party affiliation comes after Bloomberg made a decision to spend millions in the 2018 election to help elect Democrats.
Bloomberg announced his new political affiliation in an Instagram post, warning that Democrats are "so badly" needed to keep the government in check.
The global media company founder said he has registered as a Democrat, which would be especially significant if he decides to challenge US President Donald Trump in 2020.
The enormous sum brings Bloomberg - who has already pledged to spend $80 million to support Democratic congressional candidates - up to $100 million in spending commitments for the 2018 election cycle, firmly positioning himself in the Democratic camp as he contemplates a White House bid.
"Right now, I'm only focused on the midterms", Bloomberg said.