Bloomberg considers a major spending blitz to back Biden for Presidential elections

After quitting the US Presidential race, billionaire Mike Bloomberg is considering massive spending blitz to back Joe Biden in his White House quest. According to media reports on Friday, the former New York mayor is committed to backing the US Presidential candidate Biden, however, is unsure whether the money will go to pro-Biden Super PACS, Biden’s joint fundraising effort with the Democratic National Committee (DNC) or another independent group.

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Former Vice President of the United States Joe Biden is the presumptive Democratic candidate to take on its contender US President Donald Trump in the upcoming November elections. Biden and Trump each raised roughly $60 million in April, but Trump and the Republicans hold a sizable money advantage. The Biden campaign, however, declined to comment about the spending, the media reports stated.

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The media reports further disclosed that  Bloomberg’s campaign spent in excess of $250 million but did not confirm the figures. Any major financial support from Bloomberg for Biden does not include what he could also put toward assisting congressional Democrats and the DNC, the reports added.

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Bloomberg Drops Out From US Presidential Race

Two months back, Mike Bloomberg has dropped out of the presidential race and informed that he will endorse another Democratic frontrunner, Joe Biden.  Bloomberg released a statement that said he entered the race to defeat Donald Trump and he is leaving the race for the same reason. He has added that staying in the race would make the "goal more difficult." He had made the announcement after Super Tuesday results on March 4 this year, in which he failed to win in any states, except in tiny American Samoa.

In his statement, Bloomberg said that his objective is "victory in November" and he is not running away from "the most important political fight". Calling Biden the "best shot" candidate to defeat Trump, he said he will back "his friend and a great American". 

Former vice-president Joe Biden reclaimed his frontrunner status in the Democratic race, winning in at least nine of the 14 states, including Texas and Massachusetts, the home state of Elizabeth Warren, another contender, at the most consequential night of the 2020 presidential race.

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