Michael Bloomberg will build an independent group to help elect the Democratic nominee in November, fulfilling a promise to keep his $60 billion personal fortune intact even after abandoning his own White House campaign Wednesday.
The independent expenditure group will employ some of the staff he built during his months-long presidential campaign when he spent over $500 million on an unbelievable advertising blitz only to record disappointing results in 14 state contests Tuesday.
The group will embody offices in six battleground states – Florida, Arizona, Michigan, North Carolina, Pennsylvania, and Wisconsin – and will endorse down-ballot Democrats in addition to whoever wins the party’s presidential ticket, based on a source conversant in Bloomberg’s plans who spoke Thursday.
The independent group, whose title and budget are nonetheless being decided, will be capable of spending limitless sums as long as it doesn’t coordinate directly with any campaign.
The former New York mayor, among the nation’s wealthiest citizens, called off his presidential campaign Wednesday and stated he would back fellow moderate Biden in his campaign to win the Democratic presidential ticket to go against Republican Prez Trump in November’s election.
Biden, a former VP, is in a two-way fight with liberal Senator Bernie Sanders after Senator Elizabeth Warren pulled out Thursday.
Sanders told reporters in Burlington, Vermont, that Wall Street and Bloomberg had been opening their checkbooks to support and endorse Biden.