Multi-billionaire and former New York City Mayor Michael Bloomberg will endorse Democratic nominee Hillary Clinton for president in a primetime address at the party convention in Philadelphia this week, the New York Times announced Sunday afternoon.

Bloomberg has spent time in the Democratic, Republican and Independent parties, but hopes to make a case to moderate voters on Clinton's behalf.

From an outsider's position, Bloomberg has more in common with Trump. Both are Manhattanites overseeing international empires who have jumped parties.

While Bloomberg and Clinton are not good friends, he said his experience working with the former New York senator was a positive one. Bloomberg at one point mulled his own run for the presidency as an independent.