Former New York City mayor and billionaire Mike Bloomberg announced Wednesday morning he would be suspending his presidential campaign and endorsing former Vice President Joe Biden

The self-funded Democratic hopeful worth about $60 billion entered the race in November, later than his fellow candidates. Bloomberg famously spent millions on television ads across the country, including spending about $11 million on a Super Bowl ad.

Despite the millions spent, Bloomberg could not get the momentum needed to secure the Democratic nomination. As he steadily rose in the polls, his competitors, including incumbent President Donald Trump, accused him of trying to buy his way to the Democratic nomination. He rarely made any public appearances until the February 19 Democratic debate in Nevada, in which he qualified for only because the Democratic National Committee changed its rules that added limits on donors. 

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At that debate, Bloomberg was the target for many candidates. This included Sen. Elizabeth Warren (D-Massachusetts), who took the opportunity to criticize him on previous allegations that he made sexist comments towards women at his company. 

“I’d like to talk about who we’re running against, a billionaire who calls women ‘fat broads’ and ‘horse-faced lesbians,’” Warren said. “And no, I’m not talking about Donald Trump. I’m talking about Mayor Bloomberg.”

His performance in Nevada was poor, but his campaign kept hope that he would gain momentum again. On Super Tuesday, Bloomberg did not gain back that momentum, and only claimed one victory in the American Samoa. He ended his campaign on Wednesday with an endorsement for Biden. 

He said in a press release, “I’ve always believed that defeating Donald Trump starts with uniting behind the candidate with the best shot to do it. After yesterday’s vote, it is clear that candidate is my friend and a great American, Joe Biden.”