And while Trump said he would welcome a Bloomberg run, his campaign rhetoric may force him to shift his message away from his own wealth creation, and acknowledge that Bloomberg is far richer.
"Donald Trump has built his brand around the wealth he has created and uses that argument to support his capability to get things done in the politic sphere," said David Friedman, president of Wealth-X.
"By his own logic, should Bloomberg enter the fray, [Trump] will need to pay homage to the fact that Bloomberg has created as much as 10 times the wealth he has generated for himself, according to Wealth-X estimates."
Beyond having a bigger war chest, Bloomberg has also shown a willingness to spend it on elections. He spent an estimated $268 million on his three races for mayor — the largest self-financed amount for any political candidate in U.S. history.
He spent more than $380 million in additional money on pet projects and city charities while he was mayor, bringing his total mayoral bill close to $650 million.