Former New York City Mayor Michael Bloomberg, who jumped into the 2020 election in late November, has ended his presidential bid, according to his campaign.
USAToday reports Bloomberg, 78, whom Forbes estimates is worth more than $64 billion, was the last Democrat to jump into the crowded primary field. He used his wealth to try to overcome the disadvantages that came with his late entry, such as not making it to any of the primary debates in 2019, and his opponents’ months-long head start on the campaign trail.
Ad-tracking firm Advertising Analytics said Bloomberg's campaign was the highest spending presidential campaign of all time, surpassing President Barack Obama's 2012 campaign, which set the previous campaign spending record of more than $338 million. Bloomberg spent more than that, of his own money, on his campaign.
Bloomberg put much of his resources into Super Tuesday on March 3, rather than the first four early-voting states. About half of the total Democratic delegates are up for grabs that day.
But the media mogul's advertising blitz failed to generate the hoped-for level of support, and Bloomberg was not helped by two debate performances that widely were considered abysmal.
The former New York City mayor had earned just a few dozen delegates by Wednesday, as they were still being allocated, after spending $215 million on TV and radio ads in the 14 states that voted. The only contest he won was in American Samoa.
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