Mike Bloomberg spent over $1 billion on presidential campaign, FEC reports show

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Mike Bloomberg

Democratic presidential candidate former New York City Mayor Mike Bloomberg waits to speak at a news conference on Tuesday, March 3, 2020, in Little Havana, a neighborhood in Miami. (AP Photo/Brynn Anderson)

WASHINGTON (NBC NEWS) — New FEC reports released Monday reveal that former 2020 candidate Mike Bloomberg spent over $1 billion on his brief presidential bid. 

The reports show that he spent a total of $1,051,783,859.43 through March of this year. Bloomberg, one of the richest men in the world, didn’t accept individual contributions during his bid and instead self-funded his campaign. According to Advertising Analytics, Bloomberg spent $453 million on television ads and at least $82 million on digital ads. He also invested heavily in polling and building up a large campaign of over 500 staffers across the country.

Late last month, Bloomberg announced he’d pour $18 million into the Democratic National Committee, transferring the funds from his campaign to boost the party apparatus instead of creating his own super PAC.

The former New York City mayor’s campaign now faces a potential class action lawsuit for allegedly promising jobs through November to over one thousand campaign staffers and then laying them off after the campaign was suspended. The staffers stopped receiving paychecks in the first week of April, and will stop receiving health care benefits at the end of the month.

Bloomberg announced his candidacy in November and dropped out of the race on March 4 after a poor performance on Super Tuesday. The billionaire entrepreneur’s only electoral victory was in American Samoa. 

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