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Former New York Mayor Michael Bloomberg is considering a presidential bid for 2016.

Mr. Bloomberg, the billionaire founder of financial data and media company, Bloomberg L.P., is considering a presidential bid, according to聽The New York Times, because he's 鈥済alled鈥� by Donald Trump鈥檚 popularity and Hillary Clinton鈥檚 increasingly leftward political bent.

Former Democratic National Committee chair Edward Rendell confirmed Bloomberg鈥檚 plans, 聽鈥淢ike Bloomberg for president rests on the not-impossible but somewhat unlikely circumstance of either Donald Trump or Ted Cruz versus Bernie Sanders.鈥�

An on-again, off-again Republican, Bloomberg鈥檚 socially liberal views on issues like abortion and gun control will prevent him from running in the Republican primary. And although he was a registered Democrat before running for mayor of New York, his wealth will keep him out of a Democratic primary where the other candidates use 鈥淲all Street鈥� like a swear word.

Instead, Bloomberg would likely run as an independent candidate (he switched party affiliation Republican to independent in 2007). His supporters say that he could be an attractive option in a race that has so far tended towards more non-traditional political options.

Bloomberg鈥檚 views on gun control, in particular, might win him more moderate conservative supporters, says Republican candidate Rand Paul. Unlike prominent Republican candidates such as Ted Cruz, Bloomberg has come out strongly in favor of gun control regulations. The NRA is no fan.聽A Bloomberg candidacy could elevate the gun control issue to center stage in 2016.

Since he finished his third term as mayor of New York, Bloomberg has been an advocate for causes close to his heart. The roster of causes he supports sounds like a liberal candidate鈥檚 talking points: climate change, marriage equality, education, and of course, gun control.

Indeed, some suggest that Bloomberg might pose a danger to whoever becomes the Democratic candidate, as his candidacy could split the Democratic vote, the Wall Street Journal reports.聽Jennifer Horn, the chairwoman of the New Hampshire Republican state committee said, 鈥淚 think it鈥檚 the Democrats who would suffer from a Michael Bloomberg candidacy.鈥�

Independently wealthy, the former mayor is reportedly willing to spend $1 billion of his own money to run. Bloomberg already has his own Super PAC, Independence USA, which supports political moderates and their causes.

Yet, although Bloomberg鈥檚 company has donated just over $200,000 to the Super PAC in 2016 cycle, OpenSecrets.org reports that Indepenence USA has not yet spent money either supporting or attacking presidential candidates from either party.

Bloomberg has been considering a White House run聽since 2006. In 2007, when Bloomberg was reportedly seriously considering jumping into the race, Newsweek editor Jon Meacham penned a glowing endorsement of Bloomberg鈥檚 moderate beliefs and 鈥渟teadiness.鈥�

And then, it all stopped. Bloomberg himself wrote an opinion article for the New York Times, announcing that he would not run for president, but that he would support moderate candidates.

In 2016, Bloomberg is once again approaching the election season with caution. In December, he commissioned a poll to assess his chances. He has instructed his advisors to study other third-party candidates such as Teddy Roosevelt and Ross Perot.聽

Bloomberg also appears to have plenty of support. The Atlantic reported this past fall that Bloomberg has been receiving calls from wealthy friends, encouraging him to run. Business interests want a representative who isn鈥檛 as conservative as Donald Trump.

Bloomberg鈥檚 Wall Street pal, Bill Ackerman, says that he would contribute to the former mayor鈥檚 campaign. Mr. Ackerman quipped a few weeks ago, 鈥淚 would do everything in my power to get this guy elected. It鈥檚 just one quarter鈥檚 dividend.鈥� Rupert Murdoch has also tweeted about Bloomberg鈥檚 candidacy.

Bloomberg's monied relationships, however, may undermine support, too. With Bernie Sanders, who regularly attacks opponent Hillary Clinton for her Wall Street connections, doing better than expected in both Iowa and New Hampshire, Bloomberg knows his background could be a liability as well as a benefit.

Still, Bloomberg has time. Reportedly聽he will make his decision by sometime in March 鈥� after the primaries and caucuses in Iowa, New Hampshire, Nevada, and South Carolina.