Michael Bloomberg believes he could rewrite the equation for the Democratic Party if he contests the 2020 presidential election against Donald Trump. In the month of March, he had ruled out any such thoughts. However, he has now reconsidered his earlier decision and is getting ready for the contest. He needs no introduction because he is a former New York Mayor and a billionaire. His spokesman revealed he is preparing the necessary paperwork. His intention is to get on the Democratic primary ballot in Alabama this week.

CNN says one reason for the reversal of his decision was the nature of campaigns of other leading Democrats like former Vice President Joe Biden and Sen.

Elizabeth Warren of Massachusetts. They are currently the front runners and Michael Bloomberg is of the opinion that if he enters the fray, it would improve the chances of Democrats. He is already in contact with a section of them, including some in Iowa, and he has to work overtime since Alabama’s filing deadline is on Friday. Residents of the state will pick their Democratic nominee on March 3. This state does not fall in the category of an early nominating state.

He can fund his own campaign

A poll in March revealed that the popularity of the former New York Mayor was not attractive enough for the Democratic nomination.

In the beginning of the year, he had wanted to contest and traveled around the country to meet with voters and get a feel of their pulse. He had decided to self-fund his campaign but, in March, he changed his thinking. Anyway, in view of the present scenario, Bloomberg is worried about the ability of current candidates to pose a real challenge to Trump and defeat him.

The campaign of Joe Biden is struggling to maintain a hold over the Democratic base and to raise money.

CNN discusses the pros and cons of the entry of Michael Bloomberg in the fray.

A source in the Trump camp agrees that Bloomberg could pose a threat of sorts to Donald Trump being not just a fellow New York entrepreneur but also one who is wealthier. On the flip side, there could be questions from the Democratic base since they are against money power in politics. Elizabeth Warren has already opened up against self-funding campaigns. However, Bloomberg could deal with topics like climate change and guns, which would appeal to voters and strengthen the campaign.

Bloomberg could be a game-changer

According to BBC, billionaire businessman Michael Bloomberg could be another contender to take on Donald Trump in the 2020 presidential election. The 77-year old former Mayor of New York plans to file necessary paperwork this week for the Democratic presidential primary in Alabama.

Right now, there are 17 candidates from the Democratic Party with former Vice-President Joe Biden, Massachusetts Senator Elizabeth Warren and Vermont Senator Bernie Sanders being the front runners. From what has transpired until now, there are fears that none of them can really take on Trump. Mr. Bloomberg's spokesman says - "We now need to finish the job and ensure that Trump is defeated.”