Billionaire Media Mogul Michael Bloomberg Weighs Joining Democratic Race

Another Democrat may soon be joining the 2020 race for the White House.

Former New York City Mayor and billionaire media mogul Michael Bloomberg is expected to file paperwork to run in the Alabama Democratic primary — a state which has an early deadline for qualifying for the ballot.

Bloomberg has not made a final decision. But staffers say he is "increasingly concerned" that the current crop of Democratic contenders "is not well positioned" to beat U.S. President Donald Trump next November.

"If Mike runs, he would offer a new choice to Democrats, built on a unique record running America's biggest city, building businesses from scratch and taking on some of America's toughest challenges as a high-impact philanthropist," Bloomberg spokesman Howard Wolfson said.

Bloomberg is a Republican turned Independent who endorsed Democratic candidate Hillary Clinton in 2016.

He was New York mayor from 2002 until 2013 and is familiar with fellow New Yorker Trump, whom Bloomberg regards as a "dangerous demagogue" who exaggerates his business success.

Bloomberg heads up a financial services empire whose holdings include television and radio networks and magazines focusing on financial advice.

If he enters the race, he would likely join the Democratic field as a moderate.

Of the top four candidates, Bernie Sanders and Elizabeth Warren are liberal progressives. Joe Biden and Pete Buttigieg are both considered to be more to the center.

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