Bloomberg spent more than $1B on failed presidential campaign
Bloomberg has since pledged to throw his full support behind the presumptive nominee, former Vice President Joe Biden
Former New York City mayor and 2020 Democratic presidential candidate Mike Bloomberg spent a hefty amount of his own cash on a presidential campaign that lasted mere months.
BLOOMBERG LEARNS WHAT HIS BILLIONS CAN’T BUY
According to newly public Federal Exchange Commission filings, Bloomberg injected more than $1 billion into his now defunct campaign. Net contributions came out to about $1.05 billion, including tallies from the last few days of his run.
It had initially been reported that the former New York City mayor had spent around $500 million on advertisements for his campaign.
BLOOMBERG'S AD SPENDING MAY PROVIDE A CLUE TO HIS PRESIDENTIAL PLANS
The spending spree is unlikely to phase Bloomberg’s bank account, however. According to Forbes, his net worth as of Monday was $55.2 billion.
The billionaire businessman, who self-funded his entire campaign, entered the race in November. He announced on March 4 that he would withdraw after a poor Super Tuesday performance.
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Bloomberg has since pledged to throw his full support behind the presumptive nominee, former Vice President Joe Biden.
However, Bloomberg scrapped plans to form a Super PAC to fund the Democratic nominee, instead opting to give just $18 million from his own campaign funds to the Democratic National Committee.
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This story had been updated.