The liberal billionaire owner of Bloomberg News has spent less than one percent of his total wealth and has still topped a half-billion dollars in spending in an attempt to buy his way into the White House.
2020 Democratic presidential candidate Michael Bloomberg has now spent an enormous $509,512,884 on “all media types,” according to Advertising Analytics Feb. 24. That’s still not even one percent of Bloomberg’s entire current net worth at $59.4 billion, according to Forbes Magazine’s real-time net worth tracker. In addition, Bloomberg spent $15,059,000 on liberal outside spending groups this cycle.
To put this into context in terms of the Democratic primaries, Bloomberg News noted Feb. 14, that its owner’s spending is “$190 million more than all of his active Democratic rivals combined, including billionaire hedge-fund founder Tom Steyer, have spent on political ads.” [Emphasis added.]
Bloomberg News used its owner’s cash to claim Feb. 24, that “[t]he former New York mayor’s primary campaign is the most expensive in presidential history.” [Emphasis added.] The outlet also gave a breakdown of the spending, determining that its owner has spent an average of $5.5 million a day since announcing his candidacy for president.
Open Secrets reported Feb. 25 that the 2020 Democratic primary is “already the most expensive ever,” having reached $1,234,761,975 spent amongst all candidates vying for the nomination. Both Bloomberg and fellow liberal billionaire rival Tom Steyer, “are driving the spending record by self-funding their campaigns at unprecedented levels.”