Elected to run New York City three times in a row, 73-year-old Bloomberg is now rumored to be seeking replacing incumbent London Mayor Boris Johnson.
Bloomberg is allegedly "considering" the decision, which is being endorsed by senior officials in Britain's Conservative Party.
"It would be an incredible coup for London if Mike Bloomberg could be persuaded to run for mayor here. His kind of pragmatic, problem-solving leadership is exactly what London needs," Steve Hilton, a trusted advisor to British Prime Minister David Cameron, was quoted by the New York Post as saying.
Interestingly, during Bloomberg's meeting with Johnson in 2013, the London Mayor even joked about doing a "job swap" with Bloomberg even though there were no subsequent reports that Johnson would make a bid to govern New York City.
Importantly, the former Big Apple Mayor has clear-cut business interests in London, where offices of Bloomberg's financial information company are located and where he personally owns a 20-million-dollar mansion. Bloomberg once described London as his "second home".
Bloomberg is not a citizen of the UK or the European Union, which is a necessary prerequisite for running for London Mayor.
It seems, however, that this will hardly be a problem, given that Bloomberg has already injected a whopping 745 million dollars into the UK economy.
Foreigners are allowed to fast-track their British residency applications if they pump at least 15 million dollars into Britain.
