Bloomberg hints at run for president

Bloomberg hints at run for president
By Christopher Grimes in New York
Copyright The Financial Times Limited 2007
Published: June 20 2007 03:07 | Last updated: June 20 2007 03:07

Michael Bloomberg, New York’s mayor, has given his strongest hint that he may seek to run for US president as a self-financed independent candidate by filing papers to drop his affiliation with the Republican party.

Mr Bloomberg, a lifelong Democrat who switched parties before running for mayor in 2001, has repeatedly shot down suggestions that he will run for president next year. But his actions in recent months have encouraged the speculation – particularly his frequent trips outside of New York, which have given the appearance of a politician seeking to raise his profile nationally.

This week Mr Bloomberg made headlines in New York after telling a California audience the US was “really in trouble” and its standing in the world had been “hurt very badly”. The remarks, which came as his face was splashed on the cover of Time magazine with Arnold Schwarzenegger, the independent-minded Republican governor of California, seemed to be his most outspoken so far on national issues.

Mr Bloomberg, whose fortune has been estimated to be as high as $13bn, has said he plans to serve out his term as mayor, which ends in 2009. He has told interviewers that he plans to devote himself to philanthropy after his term ends.

Mr Bloomberg said yesterday his decision to register as unaffiliated was a reflection of his belief in a non-partisan approach to politics. “Although my plans for the future haven’t changed, I believe this brings my affiliation into alignment with how I have led and will continue to lead our city.”

But the move will only fuel speculation that he plans to run as an independent. His vast wealth would allow him to put off a formal announcement until as late as early next year, analysts have said.