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Billionaire Michael Bloomberg files paperwork to run for U.S. president

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A Bloomberg aide later told Reuters that the former New York City Mayor still has not yet made a final decision on whether to run, despite Thursday's filing.

The 77-year-old has kept his options open, putting his name on Democratic primary ballots in Texas on Wednesday, and registering earlier this month to appear on the ballot in Alabama and Arkansas for next year’s primaries.

His late entry could upend the race, posing a potential threat to the more centrist Democratic candidates and prompting a possible showdown with more progressive candidates who argue billionaires already wield too much influence in politics.

Forbes magazine ranks Bloomberg, who founded a media and financial information company named after himself, as the ninth-richest American, with an estimated net worth of $54 billion.

Bloomberg has been a vocal critic of Republican President Donald Trump and has publicly criticized his trade war with China.

The billionaire would position himself as a moderate with a track record of success who could challenge Trump’s business experience.

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