Former New York City Mayor Michael Bloomberg rejoined the Democratic Party on Wednesday, going back to his political roots weeks before the November 6 congressional elections and amid speculation that he might run for the White House in 2020.
The 76-year-old billionaire has switched political parties several times in the last couple decades.
The billionaire - who served as mayor of NY from 2002 to 2013, both as a Republican and an independent - had already said that if he were to launch a presidential campaign, it would be as a Democrat.
Last week, Bloomberg announced he would give $20 million to the main Democratic Senate super PAC. "Today, I have re-registered as a Democrat - I had been a member for most of my life - because we need Democrats to provide the checks and balance our nation so badly needs", he posted.
He has entertained the idea of a presidential run before but never generated enough traction to establish himself as the kind of outsize political force his fellow NY billionaire has become.
"I'm just way away", Bloomberg told the paper, "from where the Republican Party is today", adding that he also doesn't fall in line with all of the Democratic Party's politics.
Bloomberg's new party affiliation will likely fuel further speculation about a 2020 presidential run.
"Truth be told, the richest thing about Donald Trump is his hypocrisy", Bloomberg said in his speech at Democratic National Convention in July 2016.
Bloomberg did not say when he might make a decision on running for president. Bloomberg characterizes his move as "one of his most overt.to date" in terms of a possible presidential run. Bloomberg has said he doesn't believe an independent candidate can win the White House.