I don't know how we do that but he has stolen my heart. And he has stolen David's heart and it would be wonderful if we can have a home. I've changed my mind today,' he added.
The star admits the death of his long-term keyboardist, Guy Babylon, earlier this month also influenced his decision.
'Last week I lost one of my best friends; my keyboard player died of a heart attack at 52. It broke my heart because he was such a genius and so young and has two wonderful children. What better opportunity to replace someone I lost than to replace him with someone I can give a future to,' said Elton.
Jolie has adopted three of her children, Maddox, Pax and Zahara, while Madonna took in little David and Mercy from Malawi.