News

Michael Bloomberg Prepared To Spend At Least $500 Million To Defeat Trump In 2020

Michael Bloomberg, 76, the former New York City mayor and the founder and CEO of Bloomberg L.P., has recently re-registered as a Democrat and is reportedly willing to spend “whatever is required” for a 2020 run, many speculate he is preparing to make a bid for the White House.

According to Politico, the philanthropist is prepared to spend “at least $500 million from his own pocket” in a race against incumbent president Donald Trump. If he decides against running, he will instead helm “an unprecedented data-heavy campaign designed to operate as a shadow political party for the eventual Democratic nominee.” Some aides refer to as these schemes as “Plan A” and “Plan B,” respectively.

Bloomberg and his political operatives have held weekly meetings in one of his Manhattan headquarters since late November. Kevin Sheekey, one of Bloomberg’s top advisors, noted how the $500 million will get them “through the first few months.” Said estimate is only a fraction of Bloomberg’s net worth, an estimated $50 billion.

SLIDESHOW: DONALD TRUMP’S 30 CRAZIEST TWEETS

Subscribe to our free weekly newsletter!

A week of political news in your in-box.
We find the news you need to know, so you don't have to.

“Mike spent $100 million in his last New York City election,” Sheekey said to Politico. “And you can do the math as you think more broadly but New York City is three percent of the national population. I’m not suggesting it’s straight math. But I’m suggesting that when Mike Bloomberg is committed to making a difference and seeing something though, generally speaking he’s pretty unabashed in doing so.”

Bloomberg was asked about his forthcoming plans at an event last Friday. He responded by saying he’ll make his decision in “three more weeks.” Although former Vice President Joe Biden has likewise yet to decide if he will run, Bloomberg’s advisors believe there could be overlap between them within moderate primary voters. Bloomberg and his team are also conscious of how he, a  moderate Democrat, might be less appealing to party voters among the more progressive candidates.

Nevertheless, Bloomberg wouldn’t be deferred from pursuing the White House regardless of who else is running. “My decision doesn’t depend on what other people are going to do,” Bloomberg told reporters. “My decision depends on whether or not I think I can make a difference.”

Matt Reisine

A writer for uPolitics with an array of interests.

Share
Published by
Matt Reisine

Recent Posts

HHS Sec. Robert F. Kennedy Jr. Says He’ll Ban Agency Scientists From Publishing Findings In Prestigious Medical Journals

Health and Human Services (HHS) Secretary Robert F. Kennedy Jr. threatened to prohibit government scientists…

5 hours ago

As He Exits Administration, Elon Musk Criticizes Trump Budget Bill For Exploding Deficit

Elon Musk took to social media to criticize the Republican budget bill that recently passed…

5 hours ago

Trump Envoy Steve Witkoff Uses Kremlin Interpreters For Meetings With Russian President Putin

Steve Witkoff, President Donald Trump's special envoy for the Middle East, has relied on Kremlin…

7 hours ago

After Hungary Bans LGBTQ Pride Parades, 17 E.U. Countries Issue Protest

Seventeen European Union countries pressured the European Commission to respond to Hungary's passing of anti-LGBTQ…

8 hours ago

Trump’s New Social Security Commissioner, Frank Bisignano, Says He Had To ‘Google His Job’ Because He Didn’t What It Did

In early May, Frank Bisignano was sworn in as the head of the Social Security…

11 hours ago

GOP Budget Bill Changes Name Of Proposed Children’s Savings Plan To ‘Trump Accounts’ From ‘MAGA Accounts’

The GOP megabudget bill proposes to create savings accounts for American babies born during President…

1 day ago