NEW YORK _ Michael Bloomberg is ready to spend big bucks.
The billionaire ex-New York mayor plans to bring out the cash cannon if he runs for president in 2020 and will make a final decision on whether to launch a campaign by early next year, according to a senior aide.
Howard Wolfson, one of Bloomberg's top political advisers and a former deputy mayor in his city administration, said Thursday the former mayor is ready to spend well above $100 million of his own fortune, should he decide to mount a Democratic challenge to President Donald Trump in the next general election.
"He spent over $100 million on his last race in NYC," Wolfson told the New York Daily News, referencing Bloomberg's successful third run for mayor as an independent. "The country is considerably bigger than the city is, so you can do the math."
In terms of funding sources, Wolfson said Bloomberg "always totally self-funded in NYC and haven't had any discussions about doing it differently going forward."
Wolfson confirmed that Bloomberg, 76, would run as a Democrat and will make up his mind by "early 2019."
A spokesman for Trump's 2020 campaign did not return a request for comment.
CNBC first reported Bloomberg's spending willingness.
Bloomberg, who has a net worth of $40 billion and ranks as the 10th richest person in the U.S., boosted the coffers of at least 21 Democrats who won House races in last month's congressional midterms.
However, Bloomberg's business acumen and cash flow may not play all that well in the Democratic primaries.
Bloomberg had a 32 percent unfavorable rating in a Quinnipiac poll from Dec. 19 and the same survey found 19 percent of Democrats view him negatively.
Meanwhile, former Vice President Joe Biden, who is also rumored to be mulling a 2020 bid, had an 84 percent favorability rating in the poll.
