Michael Bloomberg, who spent hundreds of millions of dollars to self-fund his 2020 presidential run, announced Wednesday that he is suspending his campaign after a poor performance on Super Tuesday and will endorse Joe Biden.
What he’s saying: “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,” Bloomberg said in a statement.
- “I’ve known Joe for a very long time. I know his decency, his honesty, and his commitment to the issues that are so important to our country – including gun safety, health care, climate change, and good jobs.”
The state of play: Bloomberg opted to skip campaigning in early states, staking his candidacy on a string of Super Tuesday victories to launch him to frontrunner status, but that plan was ultimately felled by the resurgence of Joe Biden’s campaign.
- Pete Buttigieg and Amy Klobuchar both exited the race between the South Carolina primary and Super Tuesday and chose to back Biden — along with Beto O’Rourke.
- On Super Tuesday, Biden scored surprise victories in states like Texas, Massachusetts and Minnesota — and racked up huge wins across the South.
- While Bloomberg was viable in multiple states, he didn’t win any — and his only victory was in the territory of American Samoa.
The big picture: Bloomberg’s self-funding drew backlash from an increasingly progressive party that is skeptical of the role of big money in politics. Bloomberg was one of two billionaires in the race, joined by Tom Steyer, who dropped out over the weekend.