If Michael Bloomberg joins the 2020 race, he'll be funding his own campaign, reports Axios. "Mike will spend whatever it takes to defeat Donald Trump," a source tells the outlet. "The nation is about to see a very different campaign than we've ever seen before." One aspect of that: Bloomberg, who's worth an estimated $52 billion, probably wouldn't seek or accept campaign donations, a second source says. He's expected to file paperwork in Alabama Friday to meet that state's primary deadline. Meanwhile, President Trump reacted to the possibility of a Bloomberg run skeptically. "He doesn't have the magic to do well," Trump told reporters, per the New York Post. "Little Michael will fail."
However, Trump added that "there is nobody I'd rather run against" than him. One potential Democratic rival, Andrew Yang, praised Bloomberg Friday as a "stellar" New York City mayor and as a philanthropist, but he also warned that a fat wallet won't be enough. "There are limits to what money can do," Yang said on CNN, per Politico. The latter site notes that Bloomberg is seen as a centrist who would pose the biggest political threat to Joe Biden and Pete Buttigieg. Further to the left, Elizabeth Warren and Bernie Sanders took note of his potential candidacy. Warren tweeted an online calculator to figure out how much billionaires would pay in additional taxes under her policies, and Sanders, in a less direct reference, wrote: "The billionaire class is scared and they should be scared." (Read more Michael Bloomberg stories.)