Bloomberg re-registers as Democrat amid rumors of 2020 presidential run

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Billionaire mogul Michael Bloomberg announced on Wednesday that he is re-joining the Democratic Party, prompting new speculation about his possible presidential ambitions.

Bloomberg, 76, was a longtime Democrat who became a Republican before running for mayor of the largest US city in 2001.

He later became an Independent. In 2016, he toyed with the idea of running as an independent presidential candidate, "but he decided it was too hard for an independent to be elected in our system", said Martin Frost, a former House member from Texas and head of the Democratic Congressional Campaign Committee (DCCC).

But he has not yet made a final decision.

The former mayor considered running for president as an independent in 2016 but ultimately endorsed Democrat Hillary Clinton, who lost to Republican Donald Trump.

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Since leaving the New York City mayor's office, Bloomberg has been bankrolling Everytown for Gun Safety along with other left-leaning causes. In September, he told The New York Times that if he were to run in two years, it would only be on the Democratic ticket. He apparently changed sides, however, in 2001 to run for New York City mayor as a Republican after Rudolph Giuliani came up against the term limit.

"Two years ago at the Democratic Convention, I warned of those threats", the 76-year-old Bloomberg said on Instagram. "You got my vote if you run for president, we need someone like you!" another person wrote.

He said in an Instagram post on Wednesday morning he has now registered as a Democrat.

Bloomberg, whose wealth was amassed in part from media and software ventures, announced a plan in June to spend $80 million on the midterm elections, throwing most of his financial weight behind Democrats in their effort take control of the House of Representatives next month.

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