Michael Bloomberg may launch independent U.S. presidential bid

(Reuters) – Michael Bloomberg, the billionaire former mayor of New York City, has told his aides to draw up plans for an independent campaign for the U.S. presidency, according to a source familiar with the situation.

Bloomberg has advised friends and associates that he would be willing to spend at least $1 billion of his own money on a campaign for the November 2016 election, according to the source, who spoke on condition on anonymity to discuss the former mayor’s thinking.

News of Bloomberg mulling a presidential run was first reported Saturday by the New York Times.

Bloomberg, 73, has given himself an early March deadline for entering the race, the source said, after commissioning a poll in December to see how he would fare against Donald Trump and Hillary Clinton, the Republican and Democratic frontrunners.