Michael Bloomberg Ends Presidential Campaign, Endorses Joe Biden

Newly announced Democratic presidential candidate, former New York Mayor Michael Bloomberg speaks during a press conference to discuss his presidential run on November 25, 2019 in Norfolk, Virginia.
Drew Angerer / Getty Images

Michael Bloomberg was dealt a devastating loss on Super Tuesday, walking away with a sole triumph in American Samoa. Now, according to Bloomberg News, the New York billionaire is reportedly suspending his campaign.

Bloomberg took a risk by skipping early campaigning, leading him to miss several Democratic debates and connecting with voters in the initial days of his campaign. His self-funded run for the Democratic nomination drew criticism as people accused the former New York City mayor of buying his way into the election.

Bloomberg had hoped to nab enough delegates to stay in the race on Super Tuesday but was thwarted from his goal after Joe Biden made a surprising comeback, nabbing important states like Texas.

The Democratic hopeful spent $687 million in his bid to win the nomination, arguing that he was the best hope for voters if they wanted to defeat Donald Trump.

“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,” he said in a statement.

“Three months ago, I entered the race for president to defeat Donald Trump. Today, I am leaving the race for the same reason: to defeat Donald Trump – because it is clear to me that staying in would make achieving that goal more difficult,” he added.


Bloomberg Faced Numerous Challenges

Beyond backlash for the perception that he was trying to buy his way into the nomination, Bloomberg faced other challenges as well.

The former mayor’s support of the controversial policy of stop-and-frisk drew criticism even after he apologized for the policy in November.

He also used non-disclosure agreements in numerous cases after women brought concerns about his behavior, something that Elizabeth Warren used to attack him in the Las Vegas debate.

Bloomberg also faced criticism for the potential ethical conflicts of maintaining his ownership of his eponymous news site. Reportedly, he refused to allow journalists employed by his company to investigate him during the campaign.

Trump took aim at Bloomberg, dubbing him “Mini Mike” and attacking the presidential hopeful on stage by crouching behind the podium in order to mock the former mayor’s height.

While it initially appeared that his media blitz and name recognition was well-received by voters, disappointing results on Super Tuesday were likely a large factor in his decision to leave the race.


Bloomberg Says He’ll Continue To Work To Defeat Trump

Despite his decision to step out of the race, Bloomberg says he will continue to work to deny Trump a second term in office. He has said in the past that even if he isn’t the winner, he will use the money from his reported $60 billion fortune and his campaign infrastructure to support whoever ends up being the Democratic nominee.

After criticizing Biden for being too centrist and perhaps unable to defeat Trump, Bloomberg is throwing his support behind the former vice president in order to help unite the party.