Billionaire Michael Bloomberg poised to enter presidential race after citing weakness of Democrats

Former New York City Mayor Michael Bloomberg is reportedly looking to enter the Democratic primary race after saying he would consider it if the front-runners looked too weak to defeat President Donald Trump.

The New York Times first reported his interest on Thursday.

The billionaire had previously declined to enter the primary campaign after saying that the field was too crowded. He has been a vocal critic of the president and has donated to many Democratic politicians and progressive political efforts.

Bloomberg was elected to three terms as the mayor of New York City as a Republican, but he registered as a Democrat in August 2018.

In April, an Axios report claimed that he was reconsidering a presidential run after then-front-runner Joe Biden was hit with numerous accusations of inappropriate behavior with women. Support for Biden has since weakened in many state polls, and even in some national polling.

Howard Wolfson, a spokesman for Bloomberg, released a statement about his interest in entering the presidential race.

"Mike believes that Donald Trump represents an unprecedented threat to our nation," Wolfson said.

"Based on his record of accomplishment, leadership and his ability to bring people together to drive change, Mike would be able to take the fight to Trump and win," he added.

Bloomberg has already received an illustrious endorsement even before declaring his intention to run, that of daytime television superstar "Judge Judy" Sheindlin.

Here's the latest in the Bloomberg news:

Former Mayor Michael Bloomberg Reconsidering 2020 Presidential Runwww.youtube.com