Michael Bloomberg is prepared to spend at least $500 million of his personal fortune to defeat President Donald Trump in the 2020 election, whether or not he runs for the Democratic nomination himself, according to Democratic operatives cited by Politico.
The former New York City mayor, whose net worth is estimated at $50 billion, has not yet announced a presidential bid. If he runs, the funds would fuel his campaign through a crowded primary field. If he does not, the money would support a data-driven shadow campaign to assist the eventual Democratic nominee.
Kevin Sheekey, a top Bloomberg adviser, told Politico: 'That'll get us through the first few months.' He noted that Bloomberg spent $100 million on his last New York City mayoral race, adding: 'New York City is 3 percent of the national population... When Mike Bloomberg is committed to making a difference, generally speaking he's pretty unabashed in doing so.'
Bloomberg has already invested heavily in Democratic causes, spending over $110 million during the 2018 midterm elections. His team is reportedly working on two plans: one for a personal campaign, and another to build infrastructure for the Democratic nominee. A consultant described the latter as 'being done with a clear and specific purpose: stopping Donald Trump.'
Bloomberg said his decision does not depend on others, telling the Associated Press: 'My decision depends on whether or not I think I can make a difference.' He has visited early primary states like New Hampshire and Florida while weighing his options.
