Mike Bloomberg is moving $18 million from his presidential campaign coffers to the Democratic National Committee in the single largest transfer of its kind ever
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staff and the media after announcing that he will be ending his campaign on March 04, 2020 in New York City. Bloomberg, who has endorsed Joe Biden, spent millions of dollars in his short lived campaign for president. , his campaign announced Friday. exceeding $50 billion, ended his short-lived presidential bid on March 4 and immediately endorsed Joe Biden after spending an unprecedented amount of money on his campaign.
But he changed his mind, instead transferring the $18 million to the DNC in order to not create too many “competing groups” that would not be “united in strategy,” according to his campaign. Crucial quote: “While we considered creating our own independent entity to support the nominee and hold the president accountable, this race is too important to have many competing groups with good intentions but that are not coordinated and united in strategy and execution,” the Bloomberg campaign wrote in a memo released Friday.Under normal circumstances, Bloomberg would not be allowed to donate $18 million to the DNC — or even close to that.
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