Michael Bloomberg Backs Biden, Donates Big for Re-Election Campaign
Billionaire Michael Bloomberg, founder of Bloomberg LP, has officially endorsed President Joe Biden’s re-election campaign while contributing a total of $20 million to his campaign efforts. Bloomberg’s financial support includes $19 million to the pro-Biden PAC “Future Forward” and nearly $1 million to the Biden Victory Unit, a joint fundraising committee of the Biden campaign and Democratic Party Committees. In his endorsement, Bloomberg reiterated his support for Biden, having previously backed him in the 2020 election against Donald Trump. Bloomberg’s endorsement comes a month after Biden awarded him the Presidential Medal of Freedom. Bloomberg, who was mayor of New York City from 2001 to 2013, had initially switched from the Democratic to the Republican Party to run for mayor, but returned to the Democrats shortly after Trump took office in 2017. He also challenged Biden in the 2020 Democratic primaries before dropping out and endorsing him.
Billionaire Michael Bloomberg, the founder of the eponymous media company, endorsed President Joe Biden on Thursday and gave Biden’s re-election effort a $20 million boost.
Bloomberg donated $19 million to the independent, pro-Biden PAC “Future Forward” and nearly $1 million more to the Biden Victory Fund, which is a combination of the Biden campaign and Democratic Party Committees, The Washington Post reported. Asked by the Post about his massive donations to Biden, Bloomberg formally endorsed the president’s re-election campaign against Republican Donald Trump.
“I stood with Joe Biden in 2020, and I am proud to do so again,” Bloomberg said.
Future Forward PAC President Chauncey McLean thanked Bloomberg for supporting Biden’s re-election.
“Michael Bloomberg was a strong supporter of President Biden in 2020 and, now, again in 2024, and we are very grateful for his support,” McLean said. “Voters respond when they hear the story about President Biden looking out for them while Donald Trump just looks out for himself. Because of Michael Bloomberg’s support, we’ll be more successful in making sure people understand the choice in this election.”
Bloomberg switched from Democrat to Republican to run for New York City mayor in 2001. He won the campaign and then served as mayor until the end of 2013. The billionaire switched back to the Democratic Party shortly after Trump was sworn into office. Bloomberg, who boasts a net worth of $106 billion, ran for president as a Democrat against Biden in 2020 before he dropped out and supported Biden’s campaign against Trump.
Last month, Biden honored Bloomberg with the Presidential Medal of Freedom, the nation’s highest civilian honor.
“He’s changed us. He’s challenged us, as well, to solve the toughest challenges from gun violence to climate change,” Biden said of Bloomberg. “Michael, thank you, Mr. Mayor. Thank you for a career of service.”
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Bloomberg blasted Trump in 2020 and swore he would “defeat” him.
“@realDonaldTrump – we know many of the same people in NY. Behind your back they laugh at you & call you a carnival barking clown. They know you inherited a fortune & squandered it with stupid deals and incompetence,” Bloomberg tweeted in February 2020. “I have the record & the resources to defeat you. And I will.”
The former NYC mayor’s post attacking Trump was in response to a tweet from the then-president, who dubbed Bloomberg “mini Mike” for his shorter-than-average height and called him “a mass of dead energy.”
In the 2020 election campaign, Bloomberg also spent $100 million in Florida in an effort to help Biden win the state. That effort fell short as Trump won Florida by more than three percentage points.
“I thought Mini Mike was through with Democrat politics after spending almost 2 Billion Dollars, and then giving the worst and most inept Debate Performance in the history of Presidential Politics,” Trump said after Bloomberg’s Florida strategy was reported. “Pocahontas ended his political career on first question, OVER! Save NYC instead.”
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