Michael Bloomberg, who spent hundreds of millions of dollars to self-fund his 2020 presidential run, announced Wednesday that he is suspending his campaign after a poor performance on Super Tuesday.
The state of play: Bloomberg opted to skip campaigning in early states, staking his candidacy on a string of Super Tuesday victories to launch him to frontrunner status, but that plan was ultimately felled by the resurgence of Joe Biden’s campaign.
Bloomberg’s self-funding drew backlash from an increasingly progressive party that is skeptical of the role of big money in politics. Bloomberg was one of two billionaires in the race, joined by Tom Steyer, who dropped out over the weekend.
NEWS: Bloomberg OUT “Three months ago, I entered the race for President to defeat Donald Trump. Today, I am leaving the race for the same reason: to defeat Donald Trump – because it is clear to me that staying in would make achieving that goal more difficult.”
— Abby D. Phillip (@abbydphillip) March 4, 2020
.@MikeBloomberg ends his presidential bid, saying: “I’ve had the chance to work with Joe on those issues over the years, and Joe has fought for working people his whole life. Today I am glad to endorse him and I will work to make him the next President of the United States."
— Jeff Zeleny (@jeffzeleny) March 4, 2020