Michael Bloomberg has re-registered as a Democrat amid rumors he's considering running for President in 2020
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Michael Bloomberg announced his decision to register as a Democrat on social media on Wednesday amid rumors he’s running for President in 2020.

The former New York City Mayor said on Instagram that he was inspired by recent events to re-join the political party. Bloomberg, 76, cited a need for ‘Democrats to provide the checks and balances our nation so badly needs’.

He wrote: ‘At key points in US history, one of the two parties has served as a bulwark against those who threaten our Constitution. Two years ago at the Democratic convention, I warned of those threats.

Michael Bloomberg has re-registered as a Democrat amid rumors he's considering running for President in 2020

Michael Bloomberg has re-registered as a Democrat amid rumors he’s considering running for President in 2020

Should former New York City Mayor Michael Bloomberg run for president in 2020, he'll face serious competition from his own party and the Republicans

Should former New York City Mayor Michael Bloomberg run for president in 2020, he’ll face serious competition from his own party and the Republicans

‘Today, I have re-registered as a Democrat — I had been a member for most of my life.’

This is just one of several moves Bloomberg and his team have made leading up to his potential run for Oval Office. According to CNBC, a super PAC funded by the millionaire spent over $2 million (£1.5m) supporting seven Democratic women in their respective races to unseat House Republicans.

Bloomberg vowed to invest $80 million (£60m) to support Democratic candidates for Congress and $20 million (£15.1m) to a super PAC that aims to get Democrats elected to the Senate.

Should he decide to run for president, Bloomberg will have stiff competition. He’s expected to be facing Senators Elizabeth Warren and Bernie Sanders in the race for the Democratic Party nomination in the 2020 election.

Want to know more about potential presidential candidate Michael Bloomberg? Here’s the scoop.

Who is Michael Bloomberg?

Michael Rubens Bloomberg, born February 14, 1942, is an entrepreneur, politician and philanthropist. He’s perhaps best known for being the mayor of New York City from January 2002 until December 2013.

He’s the founder, CEO and owner of Bloomberg LP, a financial services, media and software company. Bloomberg LP has become synonymous with Bloomberg Terminal, a software system that provides financial data to those in financial services.

Bloomberg began focusing on the aforementioned venture in a more fulltime capacity after leaving his position as mayor of New York City in 2013. Bill de Blasio stepped into the role instead.

He remained involved in politics after the end of his mayoral tenure. Bloomberg endorsed Hillary Clinton for president in the 2016 election.

Michael Bloomberg wife

Michael Bloomberg was married to a woman called Susan Elizabeth Barbara Brown in 1975. She’s a British national from Yorkshire.

The pair tied the knot in 1975 and had two children together. Their first, Emma, was born in 1979, with second daughter Georgina following in 1983.

Bloomberg and Brown divorced in 1993. They remain close, however.

He’s since moved on with Diana Taylor, the New York state banking superintendent. They are not married, however.

Michael Bloomberg net worth

According to CBS News, Michael Bloomberg’s net worth is about $51.8 billion (£39.2b). By this estimation, he’s the eighth richest person in the United States and the 11th richest person in the world.

Forbes estimates that it’s closer to $48.1 billion (£36.4b).

Bloomberg’s net worth has been a hot topic since 2016, when Donald Trump doubted that the former mayor had reached billionaire status.

‘I don’t believe that. I don’t believe that,’ he said in an interview with CNN.

‘It’s a technology company — I mean, if someone came in, frankly, and comes up with a better machine than him, people would stop using his machine.’

Despite Trump’s doubts, Bloomberg has been said to be a billionaire for some time. Due to his immense wealth, he agreed to collect only $1 per year during his 12-year time as New York’s mayor, Business Insider reported.

He’s also joined The Giving Pledge, which requires that billionaires give away at least half their wealth.

Michael Bloomberg house

According to Curbed, Michael Bloomberg lives in a Beaux Arts townhouse in Manhattan. He owns five of the six apartments in the townhouse that neighbors his — likely an attempt at creating a larger home for himself and his family.

Bloomberg owns other homes in London, Bermuda and Colorado.

Michael Bloomberg political affiliation

Michael Bloomberg ran for mayor of New York City in 2001 as a Republican. He beat Mark Green in his first of what would be three races.

He ran again in 2005 and won a second term. Two years later, he left the Republican party.

During his second term, he campaigned to change New York City’s term limits law and won. In 2009 he was elected for a third mayoral term as an Independent.

Michael Bloomberg political views

Michael Bloomberg has been an outspoken advocate for stricter gun control laws and environmental policies. He co-chaired the Mayors for the Freedom to Marry effort in 2012, moved to make education more accessible to inmates at Riker’s Island and has been anti-death penalty for some time.

He’s also taken a hard stance against regulations on big businesses and banks and backed controversial stop and frisk tactics. Bloomberg has been anti-legalization of marijuana, which has become an important issue to voters in recent years.

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