Michael Bloomberg wants to be mayor again - but in London rather than New York City, according to reports. Bloomberg, who was elected to the top Big Apple job three times in a row, has reportedly turned his sights across the Atlantic, where he dreams of replacing incumbent Boris Johnson. According to Britain's Sunday Times, Bloomberg, 73, is 'considering' the move, and has the backing of senior officials in Britain's Conservative Party. Scroll down for video . Passing the torch? Michael Bloomberg, right, is pictured above with London mayor Boris Johnson. He is reportedly considering standing for Johnson's job in 2016 . Bloomberg has significant business interests in the city. His Bloomberg financial information company has offices there, while he personally owns a $30million mansion. In the past he has described London as his 'second home'. His ex-wife is a British citizen, as are his two daughters. Though Bloomberg holds U.S. citizenship, sources told the Sunday Times that officials could arrange for a switch to make him eligible for high office. London is due a new mayor in 2016. Boris Johnson, who was himself born in New York City, will then have held the position for eight years. 'Job swap': Johnson, right, who is seen as a future Prime Minister, once joked about swapping jobs with Bloomberg, left, who has said he thinks of London as a 'second home' If Michael Bloomberg does become Mayor of London, it would be the latest twist in a long career which has seen him rise to the top in both business and politics. He started his career as an investment banker with Salomon Brothers, and when he was laid off from the firm in 1981 he used his $10million payout to start his own financial information company, Bloomberg LP. The firm is best known for the 'Bloomberg terminals' which provide real-time updates on the financial markets and are now ubiquitous on banks' trading floors. Bloomberg has also spawned an network of news outlets including a cable TV station, financial news website and the magazine Businessweek. In 2001, Mr Bloomberg entered politics by running as the Republican candidate for mayor of New York City, and spent $73million of his own money getting elected. He went on to serve 12 years as mayor, drawing praise for his businesslike management of city government, but he courted controversy with high-profile decisions such as banning smoking indoors and outlawing extra-large sodas. Despite his repeated electoral success, Mr Bloomberg has faced opposition from the Left over his close links to Wall Street, while the Right has reacted with anger against his campaign to impose new restrictions on gun ownership across the US. Johnson is also standing for a seat in Britain's parliament in the country's May elections. He has said if he wins he will stay in the mayor's job until 2016, while serving as MP for the London constituency of Uxbridge and South Ruislip at the same time. He has long been spoken of as a future Prime Minister, and was recently named by incumbent David Cameron as a potential successor. Johnson has spoken before of the advantages of a new mayor coming in, though he could technically run for a third term. Speaking in 2013 to London radio station LBC, he said: 'The reality is that after eight years you've been at it for a long time in a very big job. 'You see what happens to people who do things for too long. You've got to be fair to the electorate, you've got to be sure you are doing your best. 'There will come people who will have fantastic ideas and who will have fresh ways of thinking about things.' Bloomberg and Johnson have met before - and at one meeting in 2013, Johnson even joked about doing a 'job swap' with Bloomberg - though there is no suggestion Johnson has set his sights on New York City. A source close to Johnson told the Sunday Times: 'Mike is an enormous friend of London. He’s a great contributor to the city. He’s got many supporters and admirers of which Boris is definitely one.' If indeed Bloomberg decided on an unlkely run for mayor, he would have to jump through some hoops. As an American citizen he would have to apply for British residency. This process is lengthy but can be speeded up if the person invested $15 million into the country. This would present no difficulties for Bloomberg who is the 13th richest man in the world, worth $36 billion. Ineed, both of Bloomberg's daughter's are British and his ex-wife is Susan Brown, is from the north of England.
Three-time NYC mayor is rumored to be have his sights on London .
Sources in Britain's ruling Conservative party said he could stand for them .
Bloomberg has business interests, property and family in Great Britain .
Incumbent Boris Johnson's term will end in 2016 .