Mike Bloomberg Wasted $600 Million on Failed Presidential Campaign

MCLEAN, VA - FEBRUARY 29: Democratic presidential candidate, former New York City mayor Mike Bloomberg walks on to the stage to speak during a campaign rally held at the Hilton McLean Tysons Corner on February 29, 2020 in McLean, Virginia. Bloomberg is campaigning before voting starts on Super Tuesday, March …
Joe Raedle/Getty Images

Former Mayor Mike Bloomberg wasted at least $600 million on his failed presidential campaign that ended after a mere 101 days.

The former New York City mayor announced his decision to drop out of the Democratic 2020 presidential primary Wednesday morning, after performing badly in the Super Tuesday primaries.

“I’m a believer in using data to inform decisions,” Bloomberg wrote in a statement. “After yesterday’s results, the delegate math has become virtually impossible.”

Bloomberg bet that massive advertising in the 14 Super Tuesday states would help him win enough delegates to propel him to the Democrat nomination. He spent $528 million just on advertising, according to reports, with millions more on staff and organization. Axios reports that Bloomberg spent $600 million on his campaign, most of it his own money.

The billionaire, who was repeatedly taunted by President Donald Trump for being short and uncharismatic, did not win a single state’s primary but did win American Samoa.

Bloomberg spent more than any other failed Democrat presidential candidate, including billionaire self-funder Tom Steyer, who wasted $252 million on his now-defunct campaign. Sen. Kamala Harris (D-CA) spent over $25 million on her failed presidential campaign and former Congressman Beto O’Rourke (D-TX) spent about $14 million on his attempt to win the presidency. Sen. Cory Booker (D-NJ) wasted over $14 million and Sen. Amy Klobuchar wasted over $30 million.

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