Billionaire Michael Bloomberg has told associates that he was reconsidering a run for president next year if former Vice President Joe Biden quit early on amid struggles with Sen. Elizabeth Warren, D-Mass., according to news reports Monday.
The former New York City mayor, whose net worth is $51 billion, has "indicated to associates in recent weeks" that he would enter the race if "Biden's fortunes suffer so much that he drops out before or during the early stages of the primary," CNBC reports.
"Bloomberg could then enter the race as one of the rare moderates with enough name recognition and campaign funding to make a run," according to CNBC.
"I think it’s something he wants," a Bloomberg ally familiar with the talks told the cable network. "He has not been shy about that.
"Nothing can happen unless Biden drops out — and that's not happening anytime soon," the individual said.
A banking executive whom CNBC described as knowing Bloomberg for decades said: "He's like everyone else. They can't get it out of their system."
In addition, another New York billionaire with ties to the former mayor said: "Bloomberg is in if Biden is out."
Bloomberg, 77, served three terms as mayor, as a Republican and an independent. He registered as a Democrat a month before the 2018 midterm election.
He has said he would run as a Democrat if he entered the presidential race, planning to spend as much as $100 million on his campaign.
In April, Axios reported that Bloomberg might still be seeking the presidency, though he said he would not the previous month.
Fox Business reported last month that Bloomberg has a team of advisers and remained open about running in 2020.
In 2016, Bloomberg considered running, but eventually endorsed Democrat Hillary Clinton. Despite speculation in 2012, he backed President Barack Obama.
Bloomberg's representatives did not respond to requests for comment, CNBC reports, and a Biden spokesperson did not return a request seeking comment.
While Biden, 76, remains the Democratic front-runner in polls despite attacks from President Donald Trump, Warren, 70, is gaining ground.
In Sunday's CBS-YouGov poll of Iowa Democratic voters, they are tied at 22% each, while New Hampshire voters put Warren eight points ahead — 32% to 24% — and Biden is leading by 25 points — 43% to 18% — among South Carolina primary voters.
President Trump continues to bash Biden over the business ties of his son, Hunter, in China and Ukraine — though both have denied wrongdoing.
Hunter Biden resigned Sunday from the Beijing-backed equity firm, and his lawyer said he would "readily comply with any and all guidelines or standards a President Biden may issue to address purported conflicts of interest, or the appearance of such conflicts."
In Washington, the House of Representatives continues to investigate Trump for impeachment over his Ukrainian telephone call in July and whether he asked for an investigation of the Bidens.
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