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Billionaire Bloomberg Paid $12.2 Million Per Delegate — Then Dropped Out Of 2020 Race
MIAMI, FLORIDA - MARCH 03: Democratic presidential candidate, former New York City mayor Mike Bloomberg visits the El Pub Restaurant in the Little Havana neighborhood on March 3, 2020 in Miami, Florida. Bloomberg continues to campaign as voters cast their ballots in 14 states and American Samoa on what is known as Super Tuesday. (Photo by
Joe Raedle/Getty Images

Michael Bloomberg has dropped at least $550 million of his massive fortune into his pursuit of the 2020 Democratic presidential nomination.

He won just 45 delegates, according to Real Clear Politics.

That means he spent more than $12.2 million per delegate.

And in California, Bloomberg forked out $54 million in advertising. He won just eight delegates. The price tag: $6.75 million per delegate.

Bloomberg, worth a reported $64 billion, had become the media darling after former Vice President Joe Biden’s campaign faltered and the Democratic establishment blanched at the front-runner, Democratic socialist Sen. Bernie Sanders. Talk swirled that the dark horse, who made a late entry into the race and skipped the first four states in the process, could sweep to victory, or perhaps win the nomination in a brokered convention in August should no candidate win a majority of delegates.

Instead, Bloomberg barely made a blip on the screen.

In fact, he won only American Samoa for a whopping haul of five delegates.

In the U.S. territory covering seven South Pacific islands and atolls, Bloomberg won 49.9% of the vote or 175 votes. Rep. Tulsi Gabbard (D-HI), who was born there, came in second at 29.3%, or 103 votes, grabbing her only delegate of the night.

But it was a disastrous Super Tuesday for Bloomberg. For comparison, Biden won 467 delegates and Sanders 392. Even Sen. Elizabeth Warren (D-MA) won more at 51 (although she did finish third in her home state).

Bloomberg remained optimistic Tuesday night, telling supporters at a campaign rally that he would continue his fight.

“No matter how many delegates we win tonight, we have done more than anyone has thought was possible,” Bloomberg said. “In three months, we went from less than one percent to being a contender for the Democratic nomination for president!”

President Trump, who loves needling his fellow New Yorker, had some fun with Bloomberg’s dismal delegate haul and said he spent well more than the $550 million most accounts say he spent on his campaign.

“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!” the president wrote on Twitter.

Reports said Bloomberg would reassess his campaign on Wednesday, even though he had long claimed he would run his campaign all the way to the Democratic convention, hoping to be a spoiler and seize the nomination in a brokered convention. But around 10 a.m., the former New York City mayor, once considered the savior of the party, announced he was suspending his campaign.

In one final black eye, his own news outlet, Bloomberg News Service, didn’t even get the story first that he was dropping out.

“Michael Bloomberg suspended his presidential campaign Wednesday after failing to persuade Democratic voters he was the best choice to defeat President Donald Trump despite record spending that topped a half-billion dollars, Axios reported,” Bloomberg News wrote.

“Bloomberg had staked his candidacy on gaining a critical mass of delegates on Super Tuesday and subsequent races, after taking the never-before-tried path of skipping the first four contests. But he decided to drop out after he failed to collect enough delegates to continue being a serious contender.”

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