Political action committees backed by businessman and politician Michael Bloomberg, who many believe may be angling for a 2020 presidential bid, spent an additional $9 million on anti-Republican ads for the midterm elections, federal records showed.
Bloomberg is just one of three billionaire businessmen using his wealth to influence the elections, according to House Majority Leader Kevin McCarthy, R-Calif.
“The real challenge that we have is three individuals who are trying to buy the Congress and flip it,” McCarthy told FOX Business on Tuesday. “One is [George] Soros, one is Tom Steyer [who] has spent more than $120 million and then [Michael] Bloomberg where you saw … all that entertainment of what he brought forward, saying he re-registered as a Democrat a week ago. He also gave [an] $80 million check to win the House and a $20 million check to win the Senate because he wants to run for president and he’s trying to buy the nomination.”
Billionaire investor Tom Steyer recently made headlines for spending another $2 million to boost Andrew Gillum’s campaign for governor of Florida, upping totals for that candidate alone to $5 million. Gillum is the Democratic opponent to Republican Rep. Ron DeSantis.
Steyer, a hedge fund manager who has supported impeaching President Trump, pledged $110 million for the midterms through two of his political organizations aimed at mobilizing younger voters. He later said he would contribute $10 million more to Democrats in the House, as reported by Bloomberg.
Bloomberg said he would give $20 million to a super PAC supporting Democratic Senate candidates. That is on top of the $80 million he had already pledged to help congressional candidates in the party.
Meanwhile, another billionaire investor – George Soros – has given more than $15.5 million to liberal and Democratic candidates, according to OpenSecrets.
The House majority leader added that in addition to having the funding advantage, Republicans also face headwinds where historical patterns were concerned and due to the number of retirements within the party.
He did, however, note that he felt as though voters were “waking up” to Democrats’ spending tactics, emphasizing that the economy and employment have recovered under the stewardship of Republicans due to policies that have been passed.
Republicans have received sizable contributions from billionaire businessmen, too, including Sheldon and Miriam Adelson, as well as Richard and Elizabeth Uihlein.