Former New York mayor Michael Bloomberg is considering a presidential campaign as an independent candidate, the New York Times reported Saturday, citing sources familiar with his thinking.
Bloomberg, a political independent and former moderate Republican, is disturbed by the dominance of Donald Trump in the Republican field, fumbles by Democratic frontrunner Hillary Rodham Clinton and the socialist policies of Democratic challenger Bernie Sanders.
Bloomberg has told friends he would be willing to spend at least a billion dollars on the campaign and will decide by March whether to enter the race, the newspaper reported.
The timeline would give the 73-year-old billionaire media mogul the opportunity to weigh the results of early primary voting and provide enough time for him to appear on November ballots.
Bloomberg, a former Democrat, who ran for New York mayor as a Republican and has been without a political party since 2007, has ruled out a third-party presidential bid.
He sees a potential opening as a moderate voice should Trump or conservative Senator Ted Cruz prevail on the Republican side or Sanders win on the Democratic side.
The first votes in a series of state-by-state intra-party primaries will be held in the central state of Iowa on February 1.