Bloomberg used his massive personal fortune — estimated to be around $60 billion — to bombard the nation with ads. Reuters estimated that Bloomberg spent a record-shattering $452 million towards his run, $312 million of that on advertising alone
One day after a disastrous showing in Tuesday’s primaries, Michael Bloomberg, the billionaire former mayor of New York City, announced he was suspending his unconventional bid for president and would endorse Super Tuesday’s surprise winner, Joe Biden.
Bloomberg won a smattering of delegates in several races Tuesday, including four in American Samoa, the only contest he won, but fell far short in states he had pinned his hopes on, especially North Carolina, where he was struggling to reach the 15 percent threshold of viability. Biden won that state, along with most of the rest of the South.
Last minute dropouts and endorsements threw a wrench into Bloomberg’s plans as well. He had hoped to consolidate the moderate voters wary of progressive candidates like Sen. Bernie Sanders. But on Saturday, in one of the contests Bloomberg elected to skip, Biden won the South Carolina primary, reinvigorating his campaign.
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