Former New York Mayor Michael Bloomberg filed an official statement of candidacy on Thursday with the Federal Election Commission.
But this doesn't necessarily mean he will run for president.
Bloomberg's team filed paperwork Thursday that says he would seek the Democratic presidential nomination, but it was done out of necessity.
The former mayor took this step because he filed paperwork to appear on the Democratic primary ballot in Alabama and Arkansas earlier this month. He was required to file paperwork with the FEC within 15 days of taking that step.
His aides have said this is not an official decision or announcement of his candidacy.
This story will be updated.