Bloomberg Ends Presidential Race, Supports Biden

Michael BloombergMichael Bloomberg
  • Michael Bloomberg Ends Presidential Race, Supports Biden

The former Mayor of New York and the Founder of Bloomberg L.P, Michael Bloomberg on Wednesday ended his presidential campaign despite millions of US dollars spent in the last three months.

The billionaire, who entered the race late, spent millions to convince Americans to vote for him under the Democratic Party.

However, his efforts and money failed to yield desired results as candidates like Joe Biden, Bernie Sanders remained people’s choice.

Bloomberg announced in a campaign statement that he endorsed Joe Biden, the former Vice President of the United States during President Barack Obama’s administration.

Bernie Sanders had accused the billionaire of trying to buy votes with money following his late declaration for the race in November 2019.

Sanders said, “I’m disgusted by the idea that Michael Bloomberg or any billionaire thinks they can circumvent the political process and spend tens of millions of dollars to buy elections.”

Bloomberg, who spent more than $100 million to help the party take control of the House in 2018, insisted he was in the race to defeat President Trump.

“I’m running for president to defeat Donald Trump and rebuild America. We cannot afford four more years of President Trump’s reckless and unethical actions,” Bloomberg wrote.

President Trump responded immediately the billionaire announced he was pulling out of the presidential race in a typical Trump fashion.

The President tweeted, “The biggest loser tonight, by far, is Mini Mike Bloomberg. His ‘political’ consultants took him for a ride.”

“$700 million washed down the drain, and he got nothing for it but the nickname Mini Mike, and the complete destruction of his reputation. Way to go Mike!”

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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