Democrat presidential candidate and former New York City Mayor Mike Bloomberg is willing to spend $2 billion on himself or another Democratic nominee to beat President Donald Trump in the 2020 presidential election, according to campaign officials who spoke with Fox Business' Charles Gasparino and Lydia Moynihan.
Bloomberg, a billionaire, has already spent close to $200 million on his campaign – and he just entered the race in late November. Activist and business executive Tom Steyer has spent $124 million and former South Bend, Indiana, Mayor Pete Buttigieg is third in spending with $22.9 million.
“No one can approach what Mike is spending or will spend,” Alan Patricof, the head of venture capital firm Greycroft Partners and a prominent Democratic Party fundraiser, told Fox. “He has a huge war chest.”
Bloomberg has a net worth of just over $59 billion.
Meanwhile, President Donald Trump’s campaign and affiliated groups have spent more than $40 million on ads, with most of the money allocated to digital ads.
In most Democrat polls, Bloomberg stands in fifth place behind Joe Biden, Bernie Sanders, Elizabeth Warren and Buttigieg, making him a long shot for the Democratc Party nomination.
But one of his goals is to get under Trump’s skin – which is one reason he spent $10 million in a Super Bowl ad opposite Trump.
By “taking the fight to Trump, the ad is part of Mike’s strategy of running a national campaign that focuses on states where the general election will be decided, parts of the country that are often overlooked,” Michael Frazier, a spokesman for the Bloomberg campaign, told the New York Times in early January.
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