Billionaire businessman Michael Bloomberg is strongly considering entering the race for the US Democratic Party’s presidential nomination.
The ex-New York City mayor is concerned the current field of candidates is not good enough to beat Donald Trump in the 2020 election, his adviser says.
The 77-year-old is expected to file paperwork this week for the Democratic presidential primary in Alabama.
A total of 17 Democratic candidates are vying to take on President Trump.
Former Vice-President Joe Biden, Massachusetts Senator Elizabeth Warren and Vermont Senator Bernie Sanders are the frontrunners.
Some recent opinion polls have suggested that Ms Warren and Mr Sanders – who are regarded as to the left of Mr Biden – might lose against Republican Mr Trump if either won the party’s nomination.
So far, three Republicans have said they will challenge Mr Trump in the party’s primary contest.
But it is seen as almost impossible that anyone will take the Republican mantle from the president.
In a statement, Howard Wolfson said: “We now need to finish the job and ensure that Trump is defeated. But Mike is increasingly concerned that the current field of candidates is not well positioned to do that.”
“Based on his record of accomplishment, leadership and his ability to bring people together to drive change, Mike would be able to take the fight to Trump and win,” Mr Wolfson said.
President Trump, 73, has so far made no public comments on the issue.
Mr Bloomberg’s net worth is $52bn (£40bn), according to Forbes. This is nearly 17 times more than that of Mr Trump ($3.1bn).
Mr Bloomberg was a Wall Street banker who went on to found the financial publishing empire that bears his name.
A philanthropist, he has donated millions of dollars to educational, medical and other causes.
Source: BBC News