If Donald Trump is still in office and running for a second term in 2020, it could be one professed billionaire vs one real billionaire. Michael Bloomberg who was a Republican from 2001–2007, then an independent for the last 11 years, announced today that he is now a Democrat. He posted on social media:

“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.”

Unlike the other wealthy guy who ran and won the presidency in 2016, Bloomberg is no stranger to politics. He spent 12 years as Mayor of New York City and more recently pledged to spend $80 million to help Democrats running in the midterm elections.

Bloomberg reports:

The former mayor considered running for president as an independent in 2016 but ultimately endorsed Democrat Hillary Clinton, who lost to Republican Donald Trump. Bloomberg told the New York Times in September he now believes that only a major-party candidate can win the presidency, and if he were to run in 2020, it would be as a Democrat.