Michael Bloomberg in Jerusalem
Michael Bloomberg in JerusalemFlash 90

Billionaire Michael Bloomberg announced that he has registered as a Democrat.

The announcement, made early Wednesday morning in a post on Instagram, fuels further speculation that he will challenge Republican President Donald Trump in the 2020 election.

Bloomberg, 76, considered Independent runs for the White House in 2008, 2012 and 2016.

Bloomberg, who is Jewish, endorsed Hillary Clinton in the 2016 presidential election, calling Trump a “risky, reckless and radical choice.” He served three terms as mayor, running as a Republican in 2001 and 2005, and was elected in 2009 to a third term as an Independent candidate on the Republican ballot line. He officially left the Republican party in 2007.

Bloomberg wrote in his Instagram post: “At key points in U.S. history, one of the two parties has served as a bulwark against those who threaten our Constitution. Two years ago at the Democratic Convention, I warned of those threats. Today, I have re-registered as a Democrat – I had been a member for most of my life – because we need Democrats to provide the checks and balance our nation so badly needs.”

In June, Bloomberg, 76, reportedly said at a fundraiser that he’s “revving up” for 2020. CBS reported in June that he was considering a run for president in 2020.

He has said he will “take a look” at a presidential campaign after the midterm elections, the Washington Post reported Wednesday.

Last week Bloomberg announced that he will donate $20 million to the Senate Majority PAC to support Democratic candidates for the U.S. Senate. The donation came on top of a previous donation to Democratic congressional candidates, bringing his total expenditure in the midterms to $100 million.