Mike Bloomberg Transferring $18 Million in Campaign Funds to DNC to Defeat Donald Trump

Former presidential candidate Mike Bloomberg (D) is transferring $18 million in campaign funds to the Democratic National Committee (DNC) as part of the greater effort to bolster Joe Biden (D) in the general election and ultimately defeat President Trump.

The former New York City mayor, who wasted $600 million on his failed efforts to rise to the top of the Democrat field and become the party’s nominee, is reportedly transferring $18 million to the DNC.

While Bloomberg previously pledged to continue his efforts to defeat Trump even if he did not win the nomination, he initially indicated that he would do so separately — not necessarily shoulder to shoulder with the DNC. However, his campaign told DNC chairman Tom Perez that it now believes they will be most effective if they combine their efforts.

Bloomberg’s campaign memo to Perez reads:

While we considered creating our own independent entity to support the nominee and hold the president accountable, this race is too important to have many competing groups with good intentions but that are not coordinated and united in strategy and execution. We therefore believe the best thing we can all do over the next eight months is to help the group that matters most in this fight: the Democratic National Committee.

“Our country is in crisis, and a change in presidential leadership is more important now than ever to protect our families, our communities and our economy,” Perez said in a statement.

“With this transfer from the Bloomberg campaign, Mayor Bloomberg and his team are making good on their commitment to beating Donald Trump,” he added.

Bloomberg’s donation will support the DNC’s “Battleground Build-Up 2020” program across key battleground states as Democrats move to beef up their organizing efforts.

According to Bloomberg’s outlet, the former presidential hopeful is “transferring leases from several campaign offices to state Democratic parties,” and a “list of ‘hundreds’ of staff members will be given to the DNC with the expectation and hope they would be hired, a campaign aide said.”

Bloomberg endorsed Biden following his departure from the race, telling his supporters that he knows the former vice president’s “decency, his honesty, and his commitment to the issues that are so important to our country – including gun safety, health care, climate change, and good jobs.”