Bloomberg Outspends Peers Eightfold

Among the top 5 candidates for the Democratic nomination, former New York mayor Michael Bloomberg spent around eight times the amount of his next competitor on his campaign in January. This is according to recent releases by the Federal Election Commission.

Bloomberg has vowed not to take any donations and is funding his campaign out of his private fortune accumulated through Bloomberg L.P., his media and business data company. Bloomberg had donated about $200 million to his own campaign (as of Q4 2019), which he launched in November and also spent around that same amount in January alone.

The second billionaire in the race, former hedge fund executive Tom Steyer, has donated a similar amount to his own campaign, but spent only around $50 million in January. Steyer is not considered a top candidate because of his lower average polling numbers.