Berkshire Hathaway Chairman and CEO Warren Buffett told CNBC Monday that he would support fellow billionaire and former three-term New York Mayor Mike Bloomberg for president.
"If Mike Bloomberg announced tomorrow that he was a candidate, I would say I'm for him," said Buffet, appearing on "Squawk Box," in an interview with Becky Quick from Omaha, Nebraska. "I think he would be a very good president."
Bloomberg is seen as a possible 2020 candidate for the Democratic presidential nomination.
Howard Wolfson, Bloomberg's top political advisor, in a recdent email to CNBC hinted at how much his boss would look to invest into his own potential campaign.
"Mike spent more than $100 million in his last mayor's race. Last time I looked, NYC is a fraction of the size of the country as a whole," Wolfson explained.
The last time Bloomberg ran for public office was in 2009, when he ran for re-election as mayor for a third term and pulled off a victory as an independent.
This is a breaking news story. Check back shortly for updates.
On Saturday, Buffett released his widely read and highly anticipated annual shareholder letter, talking about Berkshire's $112 billion cash pile but saying prices to buy companies are "sky high."
— CNBC's Brian Schwartz contributed to this report.
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