A UK paper is reporting that Michael Bloomberg, former mayor of New York and billionaire owner of business news network, is planning to running as a Democrat in the 2020 presidential election.

“Mike Bloomberg told me he is going to run in 2020,” a source told The Times. “He has the money to see it through while other candidates knock themselves out.”

Bloomberg, now 76, considered presidential runs in 2008, 2012 and 2016, amid concerns at the time that he might split Democrat votes. ADVERTISEMENT Bloomberg considered running as an Independent in the past, but CBS New York reported in June based on two sources that the former mayor would likely run as a Democrat in 2020. In January, Bloomberg was unwilling to rule a run out in an interview with MSNBC. "I suppose I could," Bloomberg said. "But I have no plans to run for president."

A spokesperson from Bloomberg's company did not immediately respond to The Hill's request for comment.

-Updated 8:26 p.m.