Michael Bloomberg, the billionaire former mayor of New York City, has told his aides to draw up plans for an independent campaign for the US presidency, according to a source familiar with the situation.
Bloomberg told friends and associates he would be willing to spend at least $1bn of his own money on a campaign for the November election, according to the source, who spoke on condition on anonymity.
News of Bloomberg considering a presidential run was first reported by The New York Times. Bloomberg, 73, has given himself an early March deadline for entering the race, the source said, after commissioning a poll in December to see how he would fare against Donald Trump and Hillary Clinton, the Republican and Democratic frontrunners.
No third-party candidate has ever won a US presidential election. But Bloomberg, who has close Wall Street ties and liberal social views, sees an opening for his candidacy if Republicans nominate Trump or Texas Senator Ted Cruz, and the Democrats nominate Vermont Senator Bernie Sanders, the source said.
Bloomberg, who has long privately flirted with the idea of mounting a presidential run, served as mayor of New York City from 2002 to 2013. He switched his party affiliation from Republican to independent in 2007 and in recent years has spent millions on national campaigns to tighten US gun laws and reform immigration.
One unnamed Bloomberg adviser told the Times the former mayor believes voters want “a non-ideological, bipartisan, results-oriented vision” that has not been offered in the 2016 election cycle by either political party.
A well-financed presidential run by Bloomberg would likely disrupt the dynamics of the election, but the billionaire would face significant hurdles in a race that has already been in full swing for nearly a year.
Though no third-party candidate has ever claimed the White House, several previous bids have affected the overall makeup of the race. In 1992 Texas businessman Ross Perot ran as an independent, a decision that some believe helped Democrat Bill Clinton defeat incumbent Republican George H W Bush.
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