Former New York City Mayor Mike Bloomberg is transferring $18 million to the Democratic National Committee to help in its fight to defeat President Donald Trump.
The Hill reported that Bloomberg is also planning to consolidate his massive campaign organization behind the DNC in an effort to make sure Trump loses in November.
Bloomberg ended his bid for the Democrats' presidential nomination on March 4 and endorsed former Vice President Joe Biden. He spent more than $500 million of his own fortune on his campaign. His decision to drop out of the race came after a disappointing finish in the Super Tuesday primaries.
The Hill noted Bloomberg's $18 million donation is $6 million more than the DNC brought in for February and nearly double the amount the party raised in January.
"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," Bloomberg said in a memo to DNC chairman Tom Perez.
And he added: "The dynamics of the race have also fundamentally changed, and it is critically important that we all do everything we can to support our eventual nominee and scale the Democratic Party's general election efforts."
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