Michael Bloomberg spent close to US$1 billion on failed US presidential campaign

The former New York City mayor spent US$474 million in February alone, a record monthly total for a presidential campaign

Bloomberg will transfer US$18 million from his campaign to the Democratic National Committee to help Democrats defeat Donald Trump

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Former New York City mayor Michael Bloomberg leaves after speaking at a rally in Florida. He ended his presidential campaign on March 4 after disappointing results on Super Tuesday. Photo: AFP

Published: 11:49am, 21 Mar 2020Updated: 10:30pm, 21 Mar 2020

Michael Bloomberg put a record US$935 million into his short-lived Democratic presidential campaign through February, including US$474 million last month alone, according to his monthly Federal Election Commission filing on Friday.

The former New York City mayor’s spending in February was a record monthly total for a presidential campaign and brought his total campaign spending to US$875 million.

He ended the month with US$60.6 million in the bank plus debts of US$31.7 million, the report shows.

Supporters of Michael Bloomberg attend a primary election night campaign rally in Florida. Photo: AP

Bloomberg joined the Democratic race on November 24, saying he was convinced that US President Donald Trump would defeat any of the candidates in the field.

But after spending almost US$580 million on advertising and building a field operation with 2,400 staff members in 43 states, a disappointing showing on Super Tuesday left him without a viable path to the nomination. He ended his campaign on March 4 and endorsed Joe Biden.

His March activity will be reported next month.

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