Login or Register
Welcome , Settings |  Logout
Tags: US | NYC | Mayors | Race

NYC Mayor Spends $109M On Campaign. Opponent? $9M

Thursday, 15 Jul 2010 07:04 PM

 

Share:
More . . .
A    A   |
   Email Us   |
   Print   |

All the bills are paid and the price of the most expensive self-financed bid for office in U.S. history — New York Mayor Michael Bloomberg's campaign for a third term — totals $109.2 million.

The billionaire mayor, who outspent his Democratic opponent by more than 11 times, filed a final spending report Thursday with the state Board of Elections, showing $866,250 in expenses since the last filing in January.

Those costs were leftover bills and expenses associated with shutting down the 2009 campaign, said deputy mayor Howard Wolfson, who was Bloomberg's campaign spokesman before he joined the administration.

The payments included staff wages, consultant costs, rental car bills, office utilities and accountants' fees. Wolfson did not respond to a question about why some expenses were paid as late as last month.

Bloomberg, a former CEO who founded the financial information company that bears his name, has a fortune estimated by Forbes magazine at $18 billion. He is ranked as the wealthiest person in New York City and the 23rd richest in the world.

He did not take donations or public money and was permitted to spend freely on his campaign, but had to disclose his expenses like other candidates who raise money.

Dave Levinthal at the Center for Responsive Politics, which tracks money in politics, said the mayor's spending total is "a remarkable number for one candidate self-financing."

"This simply has not happened at any level of government," Levinthal added.

Before Election Day in November, Bloomberg had already made history and broken records for the most personal money spent by a candidate on his own public office campaign.

He had previously held the record himself, with the $85 million he spent on his 2005 campaign.

Other wealthy businessmen who have spent their own money on campaigns — with mixed results — include Steve Forbes' $37.7 million and $38.7 million on losing 1996 and 2000 presidential bids, Ross Perot's $63 million in a failed 1992 presidential effort, Jon Corzine's $60 million to win a New Jersey U.S. Senate seat in 2000 and B. Thomas Golisano's failed $75 million for New York governor in 2002.

Bloomberg's reign at the top may be short-lived, however — in California, billionaire and former eBay chief executive Meg Whitman has already spent $90 million of her own money on her Republican campaign for governor and has said she is willing to spent $150 million.

The 68-year-old mayor's opponent, William Thompson Jr., relied on donations and matching funds and spent $9.4 million.

Despite the staggering difference in spending and an expectation that Bloomberg was a shoo-in, the Republican-turned-independent won by fewer than five percentage points.

Thompson managed to tap voter outrage over the way Bloomberg had persuaded the City Council to change the city's term-limit law so that he could run for a third term.

The law had limited officeholders to two consecutive four-year terms.

The amount Bloomberg spent equals about $186 per vote for the 585,466 he received. Thompson spent about $17 per vote and lost by 50,600 votes.

Most of Bloomberg's spending — more than $56 million — went toward advertising, and millions went to consultants, strategists and pollsters.

He handed out $400,000 bonuses to each of his three top strategists, and most of his other staffers were also rewarded with bonuses equal to about 20 percent of their salaries.

© Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
More . . .
   Email Us   |
   Print   |
Around the Web
Join the Newsmax community.
Register to share your comments with the community. Already a member? Login
Note: Comments from readers do not necessarily reflect the viewpoint of Newsmax Media. While we attempt to review comments, if you see an inappropriate comment you can block it by rolling over the comment, clicking the down arrow and selecting "Flag As Inappropriate."
blog comments powered by Disqus
 
Email:
Country
Zip Code:
 
Hot Topics
Top Stories
Around the Web
You May Also Like

Jeb Bush Met With Tea Party Groups on Immigration

Sunday, 19 May 2013 12:22 PM

Former Florida Gov. Jeb Bush met with tea party groups in April over immigration reform while the Senate's Gang of Eight . . .

Cuccinelli Cites IRS Scandal while Accepting GOP Nomination

Sunday, 19 May 2013 09:07 AM

Virginia Republicans on Saturday formally nominated Ken Cuccinelli for governor in the nation's marquee 2013 political r . . .

Va GOP Nominates Black Minister as Cuccinelli Running Mate

Sunday, 19 May 2013 08:03 AM

Virginia Republicans have chosen firebrand conservative minister E.W. Jackson's for lieutenant governor, the first black . . .

 
 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved