What is Michael Bloomberg’s net worth?
The former mayor of New York City is one of the wealthiest people in the world
Former New York City mayor and 2020 presidential hopeful Michael Bloomberg won’t join his Democratic opponents on the debate stage Thursday night.
However, the 77-year-old billionaire isn’t likely to be hurting for airtime, since he has reportedly spent more than $100 million on advertising, Advertising Analytics reported last week.
That’s an average of $3.72 million a day.
That high amount is possible in part because Bloomberg is one of the wealthiest people in the world -- and is easily the wealthiest presidential candidate.
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According to Forbes, Bloomberg is estimated to be worth $55.6 billion.
The runner-up for the wealthiest candidate is President Trump himself, who is estimated to be worth only $3.1 billion, according to the website.
Bloomberg co-founded the financial data services and media company Bloomberg LP in 1981, and today he owns 88 percent of the business, Forbes reported.
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The self-made billionaire has also donated $8 billion to various causes, including climate change and gun control, according to the website.
He served as the mayor of New York City for three terms, from 2002 to 2013, and formally announced his 2020 presidential bid on Nov. 24.
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Last week, Politico reported that Bloomberg has already hired more than 300 people to work on his campaign, which includes nearly 100 staffers in offices across 15 states.
Bloomberg, who said he does not intend to accept campaign donations, is not participating in the Iowa caucuses and won't be on the ballots of other early-voting states, including New Hampshire, South Carolina and Nevada.
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FOX Business’ Megan Henney contributed to this report.