STAGGERING

Bloomberg Spent Over $1 Billion on Failed Presidential Campaign

The billionaire, whose failed bid for the White House lasted roughly 100 days, poured over $1 billion into his campaign in 2020 alone.

Michael Bloomberg spent a staggering $1 billion on his presidential campaign before he dropped out in March, according to a filing by the Federal Election Commission. The billionaire spent a total of $1,221,777,405.26 on his failed bid for president, including $1,047,623,103.81 that was dropped in 2020 alone. He spent $176 million in March, including $18 million that was transferred to the Democratic National Committee to “help Democrats win up and down the ballot in November,” his campaign told Forbes in a statement. Bloomberg also poured $566 million into advertising and hired 2,400 staff members, according to Advertising Analytics.

The former New York mayor’s campaign was sued last month by its former field organizer, who claimed that thousands of workers were duped into jobs, not paid for overtime, and then laid off after Bloomberg dropped out of the race after running for roughly 100 days.