NBC News reports former New York Mayor Michael Bloomberg is considering launching a third-party bit for the presidency. According to a source close to Bloomberg, the former mayor would only run if Donald Trump or Ted Cruz wins the GOP nomination and if Bernie Sanders wins the Democratic nomination.
Bloomberg is willing to spend $1 billion on a presidential campaign, according to a report by the New York Times. Bloomberg is reportedly setting a deadline of March to decide on a campaign, waiting on the Iowa caucus to make his final decision.
"The truth of the matter is I'm very happy doing two things: running my company and working with the United Nations and with the U.S. government on climate change," Bloomberg said in a joint interview on NBC News with Secretary of State John Kerry.
Bloomberg's bid would join a crowded field of potential nominees. Both the GOP and Democratic fields are a tight-knit race between two popular candidates; Trump and Cruz for the GOP, and Clinton and Sanders for the Democrats.
A source told NBC News that Bloomberg is interested in the presidency, but only if there is a foreseeable path to victory.