Various media outlets are speculating progressive left-wing billionaire Tom Steyer is ready to go public with a bid for the 2020 Democratic presidential nomination.

The 62-year-old Steyer reportedly held a private conference call last week to inform potential supporters he was planning to run, according to Politico.

“He’s definitely focused on the [fact that the] economy is not as good as people are making it out to be,” a source told the newspaper.

“I think his heart’s in the right place. If he’s doing this, he’s got a reason behind it — He’s a very intelligent man.”

Steyer would become the 26th Democrat competing for the party’s nomination to take on Trump if he indeed does step forward.

The former hedge fund manager revealed his plan during a private conference call with his San Francisco office and two progressive organizations he funds, Need to Impeach and NextGen America, but has yet to make the bid public, the Atlantic also reported.

Steyer initially planned to announce his 2020 campaign in January only to travel to Des Moines to declare the exact opposite. He instead used the trip to hold a town hall for his Need to Impeach group, which has allegedly grown to be the largest progressive-leaning organization in the country with eight million members, the Atlantic stated.