Michael Bloomberg commissioned a poll last month to gauge his prospects in a race against Hillary Clinton and Donald Trump, the New York Times reports.
The billionaire former New York City mayor has drawn presidential buzz since as early as 2004.
He weighed an independent bid in 2008, but didn't see an opening.
With Donald Trump leading the GOP ranks, and Hillary Clinton moved left by rival Bernie Sanders, the centrist Bloomberg may see a better chance now, though his past flirtation with a bid leaves a bid a distinct longshot.
His commissioning a poll comes as many wealthy Republicans fret over the prospect of Trump securing the GOP nomination.
Bloomberg is the second-richest man in New York, and could use his fortune to fund a campaign.
A Bloomberg bid would aim to appeal moderates and political independents, the traditional Republican donor class that distrusts Trump, and business-friendly Democrats worried about a leftward lean by Clinton.
A Bloomberg, Trump, Clinton race would feature two New York billionaires and one New York multimillionaire.