Odds of Michael Bloomberg Running for President 'Very, Very Low,' Source Says

The billionaire businessman is unlikely to launch a campaign for president.

His decision, the source said, will likely come this week or next. Another Bloomberg confidant would not confirm nor deny that characterization but told ABC News, “We are at crunch time.”

As ABC News reported in January, the former mayor of New York City has been exploring the possibility of running as an independent. His political team has done research on his viability and the requirements to get his name on the ballot in all 50 states.

In his conversations with his closest advisers, Bloomberg has not ruled out beginning the process of getting on the ballot and deferring a decision until later. But sources told ABC News that Bloomberg is leaning against such a move and is more likely to make a final decision over the next week or two.

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