Democratic presidential candidate former New York City Mayor Mike Bloomberg speaks during a “United for Mike,” event held at the Aventura Turnberry Jewish Center and Tauber Academy Social Hall on January 26, 2020 in Aventura, Florida.
Joe Raedle | Getty Images
Mike Bloomberg’s campaign for president spent a colossal amount of money in the final quarter of 2019 as he attempts to catch up to and surpass Democratic rivals in the race to take on President Donald Trump.
Bloomberg’s campaign spent over $180 million during the period, according to a newly released Federal Election Commission filing.
He launched his bid for president at the end of November, several months after his fellow candidates joined the field, so his campaign was only active for about a month of the three-month period. Bloomberg spent more during that month than any of his individual Democratic rivals have raised in total during the cycle.
The massive expenditure amount went toward TV ads, field staff and his technology firm, Hawkfish. The record shows Bloomberg’s campaign spent over $11 million on the digital firm. The company has become the primary digital ad agency for Bloomberg’s operation.
Beyond his campaign’s enormous spending spree, the amount Bloomberg has given directly to his campaign shows why he will likely be able to stay in the race for a long time, regardless of where he stands in the polls. The record shows Bloomberg contributed over $200 million to his campaign. His campaign had $11 million on hand going into the year 2020.
It is likely he will keep giving more money to his campaign. The former New York mayor has sworn off asking for donations, even though that move automatically disqualifies him in making the debate stage.
The Democratic National Committee has required primary contenders to reach a certain polling and donation threshold to qualify for the debates.
With all the money he’s spent, Bloomberg has surged into fourth place in the primary and moved ahead of former mayor Pete Buttigieg, according to a RealClearPolitics polling average. He’s still behind former Vice President Joe Biden, Sen. Bernie Sanders and Sen Elizabeth Warren.
Bloomberg, a billionaire with a net worth of just over $60 billion, has opted to skip the four early states and has instead put his resources toward delegate-rich primaries, including those taking place on Super Tuesday, such as California, Texas and North Carolina.
He’s also been dominating in the digital platforms with ads, overtaking President Donald Trump himself in Google investments.
Bloomberg’s presence on air and online seems to have resonated with Trump with the president lashing out on Twitter against the wealthy candidate.