Michael Bloomberg Is Seriously Considering a Presidential Run

Michael Bloomberg is eyeing a third-party run for president this fall, calling the election season so far an "insult to voters" and saying the public deserves "a lot better," according to a Financial Times report.

At the end of January, the 73-year-old former New York City mayor and gun control advocate reportedly told his advisors to gauge the viability of a 2016 presidential run. The idea was he'd be willing to spend as much as $1 billion of his fortune on the potential campaign against the financial juggernauts in both parties, but this is the first time Bloomberg has spoken directly about the plan.

The media magnate has considered throwing his hat in the presidential ring in the past, apparently testing the waters during the 2008 election before shelving the idea after deciding he couldn't win. This time around, it's legit to wonder if an independent might have a decent shot doing the moderate thing with populists Donald Trump and Bernie Sanders making noise in both major party primaries.

The former mayor has set himself an early March deadline to decide one way or another, the Financial Times reports. That way, he would probably have enough time to get his name on ballots around the country in time for November.