Billionaire Michael Bloomberg has told associates that he was reconsidering a run for president next year if former Vice President Joe Biden quit early on amid struggles with Sen. Elizabeth Warren, D-Mass., according to news reports. The former New York City mayor, whose net worth is $51 billion, has “indicated to associates in recent weeks” that he would enter the race if “Biden’s fortunes suffer so much that he drops out before or during the early stages of the primary,” CNBC reports. “Bloomberg could then enter the race as one of the rare moderates with enough name recognition and campaign funding to make a run,” according to CNBC.