Former Democratic presidential hopeful Mike Bloomberg spent more than $450 million on his failed bid for office.
Bloomberg spent approximately $452 million on advertising between November and March, NPR reported, citing Advertising Analytics. Bloomberg, a billionaire who was self-funding, spent roughly twice what President Trump has spent on his campaign and far more than rivals like Sen. Bernie Sanders and Sen. Elizabeth Warren, according to the Center for Responsive Politics.
"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," Bloomberg said in a statement.
"I've always believed that defeating Donald Trump starts with uniting behind the candidate with the best shot to do it," the billionaire continued. "After yesterday’s vote, it is clear that candidate is my friend and a great American, Joe Biden."
Spending on the 2020 presidential primary surged past the $1 billion mark in February, with more than half of that driven by Bloomberg's massive advertising campaign, according to data from Advertising Analytics.
So far, Democrats have spent a whopping $969 million on ads, compared to $67.9 million by Republicans, which is an unsurprising ratio because there are eight candidates seeking the Democratic Party's nomination.
This story used material from previous FOX Business reports.