Mike Bloomberg dropped out of the race to become the 2020 Democratic nominee in early March, but not before the self-made billionaire had the chance to spend over a billion dollars on his own campaign.
Essentially, Bloomberg’s bid for the Democratic nomination cost $23 million for each delegate won. Bloomberg’s campaign spent 70% of its total budget on advertising, according to The New York Times, but that still left tens of millions for more frivolous purchases.
The former New York City mayor’s investments in advertising didn’t pay off either. Bloomberg spent a quarter of its billion-dollar budget running ads in Super Tuesday states, only to get trounced by presumptive nominee Joe Biden and then-frontrunner Bernie Sanders. Bloomberg’s only outright win was the American Samoa, whose total GDP is only slightly greater than Bloomberg’s ad spending.
Bloomberg is the richest person in American history to run for president, and his campaign costs didn’t even make a dent in his massive fortune.
Keep reading to see how Bloomberg’s campaign spent its money.
