Former New York City Michael Bloomberg is considering a run for president in 2020, CBS New York is reporting.

At 76-years-old, Bloomberg would be both the oldest and richest person to seek the job, topping President Donald Trump in both categories.

The former three-term NYC mayor considered running in 2016 as an Independent, but sources tell CBS2’s Political Reporter Marcia Kramer that if he runs in 2020, he would run as a Democrat.

Bloomberg is said to be motivated in part by remorse over not putting up a fight against Trump in 2016, as he feels he could have beaten the President or at least hurt his chances.

While Bloomberg is a Republican-turned-Independent and not a Democrat, Sen. Bernie Sanders is also not a Democrat and is also 76 years old, and he’s mulling another run too. And Donald Trump is a Democrat-turned-independent-turned Republican president.

Political consultants point out Bloomberg is making a number of key moves, including spending $80 million to help Democrats win Congressional races and collecting a lot of political IOUs in the process. But, they also say it could be an uphill battle because of his liberal policies.

“He’s long wanted to be president, and some very smart people in contact with Bloomberg’s inner circle say Team Bloomberg sees this 2018 effort as a way to make new friends and test a possible Bloomberg 2020 campaign,” says King.

Bloomberg considered a run for the White House in 2008, 2012 and 2016.