Billionaire Mike Bloomberg dropped out of the presidential race Wednesday after a disappointing Super Tuesday performance that left him with just 44 delegates in total.

The former New York City mayor self-financed his campaign, spending over $550 million in advertising as he tried to present himself as the moderate alternative to former Vice President Joe Biden.

Bloomberg spent about $224 million in advertising specifically in Super Tuesday voting states, meaning that he spent $5.1 million per delegate he earned.

The states he had been favored in, such as Oklahoma and Arkansas, were won by Biden. In comparison to Bloomberg’s 44 total delegates, Biden had earned 453, Sen. Bernie Sanders (I-Vermont) had earned 382 and Sen. Elizabeth Warren (D-Massachusetts) had collected 50.

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On Wednesday morning, Bloomberg announced he was withdrawing from the race and endorsing Biden.

“Three months ago, I entered the race to defeat Donald Trump,” Bloomberg tweeted. “Today, I’m leaving for the same reason. Defeating Trump starts with uniting behind the candidate with the best shot to do it. It’s clear that is my friend and a great American, Joe Biden.”

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