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Bloomberg Spent Almost $1 Billion on Failed Presidential Campaign




When Michael Bloomberg entered the arena as a nominee for the Decomratic candidate, everyone worried that he would buy the election.

It appears that money isn’t the only factor in an election.

Bloomberg spent $935 million of his own personal fortune on his bid for the nomination. He has since ended his presidential campaign and endorsed Joe Biden. In total, he only received the support of 58 delegates. 

That math works out to be $16,120,689.65 per delegate!

It looks like Bloomberg isn’t as great of an investment as he originally believed.

Check it out:

NBC has this to report:

Michael Bloomberg, the billionaire former mayor of New York City, spent nearly a billion dollars on his long shot presidential bid, according to his campaign’s final financial disclosure report released Friday.

Bloomberg spent $936,225,041.67 on the campaign, which lasted roughly three months. More than half of that total was spent in the month of February — roughly $470 million. He had more than $60 million cash on hand at the end of February.

Bloomberg jumped into the 2020 presidential race late and used his personal wealth to bankroll an unconventional campaign, which included lush salaries to an army of campaign staffers and organizers and blitzing the airwaves and the Internet with political advertisements.

He ended his bid for the Democratic nomination earlier this month after a poor showing on Super Tuesday. He picked up four delegates in American Samoa that night and 46 delegates overall.

Bloomberg’ campaign took the biggest hit at the Las Vegas debate Feb. 19, his first of the cycle, in which Sen. Elizabeth Warren, D-Mass., laced into him over his past critical statements about women — calling him “a billionaire who calls women 'fat broads' and 'horse-faced lesbians'” — before demanding on the spot that he release the women making the allegations against him from their nondisclosure agreements. He later announced he had released the women from those agreements.

The Hill had this to add about Bloomberg's campaign:

The filings show that the Bloomberg campaign spent more than $500 million on television advertising alone, as well as more than $100 million on digital ads. It also dropped more than $15 million on polling.

The unprecedented spending fueled a Bloomberg surge in the polls after his entry to the primary field and helped cast him as a serious contender and potential rival to former Vice President Joe Biden, another centrist.

Bloomberg, in an apparent recognition of his late entry into the race, skipped the first four nominating contests in Iowa, New Hampshire, Nevada and South Carolina and appeared set to head into Super Tuesday with the wind at his back.

However, a devastating debate performance in which he was savaged over his past support of stop and frisk and comments about women, and a 30-point rout by Biden in South Carolina derailed his once-promising bid. 

He won a disappointing total of a few dozen delegates on Super Tuesday out of the 1,357 up for grabs, and took zero states, only winning American Samoa’s caucuses. He dropped out the next day. 

However, Bloomberg endorsed Biden after his withdrawal and has vowed to support the Democratic Party as it tries to flip the White House and several Senate seats. The former mayor announced Friday that he will transfer $18 million to the Democratic National Committee (DNC) and plans to consolidate his massive campaign organization behind the national party.

Take a look at the video of Bloomberg announcing the end of his presidential bid:


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