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Bloomberg Won’t Be Running For President But He Could Be Prepping for a Retirement

Mar 07, 2016

Michael Bloomberg wrote Monday afternoon that he would not be running for president because his campaign would siphon votes off to Republican candidates Ted Cruz or Donald Trump.

"That is not a risk I can take in good conscience," he wrote in a Bloomberg opinion piece.

But the three-time New York City mayor also could be considering a different move farther off in the future, reported the Associated Press.

After his time as mayor, Bloomberg had not planned on returning to his company, Bloomberg LP. But the draw of the business was too strong. The 74-year-old resumed him position at the helm of Bloomberg in 2014, and has since been very active in the company.

But now there are hints of a potential move stirring within his company.

Recently Bloomberg has made moves similar to when he was preparing to leave his company for political office in 2002.

According to the Associated Press, Bloomberg has considered implementing a new leadership structure, including a succession plan. Though that could be even 10 years in the future.

Fortune has reached out to Bloomberg's representatives and will update this story if we receive a response.

This story has been updated.

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