Mike Bloomberg, the billionaire former mayor of New York City, has officially endorsed President Biden for re-election. In addition to his endorsement, Bloomberg has contributed a whopping $20 million to support Biden’s campaign, according to reports from the Washington Post and Reuters. The contributions were made to the Future Forward USA PAC (also known as FF PAC), a pro-Biden group, as well as the Biden Victory Fund, a joint fundraising committee authorized by the president’s campaign and the Democratic National Committee.
This isn’t the first time Bloomberg has shown his support for Biden. In fact, during a White House ceremony last month, Biden awarded Bloomberg the Presidential Medal of Freedom, the nation’s highest civilian honor. Biden praised Bloomberg for his significant contributions to various industries, stating, “From finance to media to philanthropy, Michael Bloomberg has revolutionized our economy. He’s transformed how we consume information.” Biden also commended Bloomberg for his work in rebuilding New York City after the devastating events of 9/11.
Bloomberg’s financial success stems from his background in financial technology. He served as mayor of New York City from 2002 to 2013, initially as a Republican and later as an independent. However, in 2018, he re-registered as a Democrat, the party he aligned with prior to his mayoral career. In the 2020 Democratic primaries, Bloomberg ran for president but ultimately spent over $1 billion on an unsuccessful campaign.
With a reported net worth of $106 billion, according to Forbes, Bloomberg ranks just outside the top 10 on the list of the world’s wealthiest individuals. While the exact timing of his donations to Biden’s re-election effort remains unclear, his financial support is undoubtedly significant. It showcases not only his belief in Biden’s leadership but also his dedication to contributing to important political causes.
Biden and the Democratic National Committee have been successful in their fundraising efforts for the 2024 presidential race, raising a combined $85 million in May alone. Bloomberg’s substantial contribution adds to this impressive fundraising total, illustrating the level of support and financial backing behind the Biden administration.
In conclusion, Mike Bloomberg’s endorsement and generous donation to President Biden’s re-election campaign highlight his unwavering support for the president. As a prominent figure in various industries and a billionaire philanthropist, Bloomberg’s endorsement carries weight and demonstrates his confidence in Biden’s leadership abilities. Furthermore, his substantial financial contribution adds to the campaign’s fundraising success, further solidifying the support behind the Biden administration.
