Elections 2020

Bloomberg Spent Nearly $1 Billion on Failed Presidential Run, FEC Filing Shows

The former New York City mayor spent more than $875 million on his campaign through Feb. 29

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Former New York City Mayor Michael Bloomberg spent more than $875 million on his failed presidential run, Federal Election Commission filings show.

According to a filing posted on Friday, Bloomberg spent a total of $875,361,580.88 on his campaign through Feb. 29. The filing showed he transferred more than $936 million of his $61 billion fortune to the campaign through that period.

It's possible that his total spending might have been even higher; he didn't drop out until after the Super Tuesday primaries, on March 3.

The former mayor performed poorly that day, failing to win any contest save American Samoa. He won just 59 of the 1,344 delegates up for grabs -- working out to more than $14 million spent per delegate.

He dropped out of the race and endorsed former Vice President Joe Biden the following day.

Bloomberg, one of the world's richest men with an estimated net worth of $61 billion, dwarfed all other his other Democratic challenges in spending. The next-biggest spender, fellow billionaire Tom Steyer spent more than $271 million through Jan. 31, the last day his campaign had expenditures on file with the FEC.

He he also outspent President Trump's campaign many times over, according to the filing. Through Jan. 31, the last day data was available for his campaign, the president had spent $132 million.

Bloomberg had pledged to keep his campaign offices open in key states to help Democrats beat Trump even if he lost the primary. But the New York Times reported today that it he had abandoned those plans, instead giving $18 million to the Democratic National Committee.

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