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

Michael Bloomberg the UN Secretary-General's Special Envoy for Climate Action speaks during the plenary session of the Global Action Climate Summit in San Francisco

Michael Bloomberg the UN Secretary-General's Special Envoy for Climate Action speaks during the plenary session of the Global Action Climate Summit in San Francisco

Bloomberg, the billionaire former mayor of NY, announced Wednesday that he has registered as a Democrat, a move certain to stoke further speculation about whether he intends to run for president in 2020.

The change in party affiliation comes after Bloomberg chose to spend millions in the 2018 election to help elect Democrats.

He served three terms as New York City mayor and has variously been a Democrat, a Republican and an independent.

Last week, Bloomberg announced he would give $20 million to the main Democratic Senate super PAC. According to Bloomberg News (part of the former mayor's conglomerate), he is already allocating millions of dollars to support Democratic efforts to take control of Congress.

"At key points in US history, one of the two parties has served as a bulwark against those who threaten our Constitution", Bloomberg wrote.

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He has entertained the idea of a presidential run before but never generated enough traction to establish himself as the kind of outsize political force his fellow NY billionaire has become.

That's the party he belonged to most of his life before switching to the Republican party to run for mayor.

"Truth be told, the richest thing about Donald Trump is his hypocrisy", Bloomberg said in his speech at Democratic National Convention in July 2016.

Democrats are aiming to pick up 23 seats in the House to win a majority in the lower chamber, something political analysts have said is more likely than gaining an edge in the Senate.

Bloomberg, the founder of the financial data and media company that bears his name, has said he will decide in the wake of the November 6 midterm elections whether he will make a run for the White House.

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