Michael Bloomberg is reportedly considering an independent presidential run

Former New York City Mayor Michael Bloomberg is considering an independent presidential run, The New York Times reported Saturday.

Advisers to Bloomberg, 73, apparently said his campaign interest is fueled by Donald Trump's high polling in the crowded Republican field as well as Bernie Sanders' gains on Hillary Clinton on the Democratic side. He would reportedly be willing to spend at least $1 billion of his own money on his campaign, anonymous Times sources said.

Bloomberg reportedly set a personal deadline for entering the race by early March, so he could still appear on the ballot as an independent candidate in every state. No independent candidate has ever won a presidential election.

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