Democratic presidential candidate Michael Bloomberg is prepared to spend $2 billion of his own money to assure that President Donald Trump doesn’t get a second term in office, according to a report from Fox Business:
“Wall Street executives who have spoken with Bloomberg campaign officials say they’ve been told that the former New York City mayor and billionaire businessman is prepared to spend as much as $2 billion on either his own campaign or to help finance a Democratic nominee to unseat President Trump in the 2020 general election.”
The report goes on to note that Bloomberg has “personally loathed Trump for years” and even slammed Trump when he spoke at the 2016 Democratic convention, remarking:
“I’m a New Yorker, and I know a con when I see one.”
And unlike the president, Bloomberg has access to billions in available cash and can prove his net worth:
“Bloomberg, meanwhile, is worth $53 billion, money he compiled during a long career on Wall Street and as the founder of the eponymous financial data and news outfit Bloomberg LP before serving three terms as mayor of New York City. Even more, Bloomberg is said to have tens of billions in cash or cash equivalents, which can be marshaled for his campaign at a moment’s notice.”
$2 billion could indeed turn the 2020 election to the favor of whoever wins the Democratic nomination, despite Trump’s current lead in fundraising:
“Fundraisers close to Trump say that money has been flowing into the campaign and pro-Trump super PACs in recent weeks as Republican donors increasingly worry that a far-left politician like Sanders or Warren could win in 2020. The Trump campaign has seen an increase in fundraising since the House voted to impeach Trump, and they believe the campaign can easily raise more than $1 billion.
“So far, Trump has raised $185 million, almost twice as much as any of the top Democrats, campaign records show.”
Bloomberg will run a 60-second spot during one of the most watched sporting events of the year, Super Bowl LIV on February 2, spending $10 million for the ad space.
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