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Michael Bloomberg is willing to spend up to $2 billion to defeat President Trump, Wall Street sources have revealed.

The eighth richest man in America has long resented Trump and Bloomberg's contempt only grew after 2016 when he backed Hillary Clinton's failed campaign.

Bloomberg, according to the Fox News report, will also throw the two billion behind whichever Democrat faces Trump in November should he fail to win the nomination.

The former New York mayor - worth an estimated $53 billion versus Trump's $10 billion - has recently bought a Super Bowl commercial slot for $10 million.