Michael Bloomberg gave nearly $1 billion of his own fortune to his failed Democratic presidential campaign.
A Federal Election Commission filing on Friday showed that the former New York Mayor gave his campaign committee $935,360,675.56. He launched his campaign in late November and ended it on March 4 following a lackluster showing in Super Tuesday contests.
Bloomberg made his estimated $45.1 billion fortune by founding the financial services company Bloomberg LP. He declined to accept outside campaign contributions because he could fund his bid himself.
His campaign spent more than $875 million during his three-month bid, including more than $500 million on broadcast and digital ads.
Bloomberg spent an unprecedented amount on his failed primary bid. According to the Center for Responsive Politics, Hillary Clinton’s campaign and other outside groups that supported her spent nearly $769 million for her 2016 bid, while President Trump’s campaign and other groups spend $440 million to support his 2016 candidacy.
On Friday, Bloomberg announced that he gave $18 million in leftover campaign funds to the Democratic National Committee, circumventing campaign finance rules that would otherwise allow him to give around only $850,000 directly.
