Billionaire Michael Bloomberg would be willing to spend as much money as necessary from his $50 billion fortune to win the Democratic presidential primary and defeat President Trump.
A Bloomberg source told Axios on Friday that “Mike will spend whatever it takes to defeat Trump. The nation is about to see a very different campaign than we’ve ever seen before,” the source added.
The former mayor of New York City has not finalized the decision to jump into the Democratic primary, but he is planning on filing paperwork for the first primary deadline in Alabama. He would spend the money to run a national campaign rather than a campaign focused just on early states.
Bloomberg, 77, is not expected to take any campaign contributions if he does run. Forbes estimates he is worth $52 billion and one of the top 10 wealthiest people in the world. His wealth would dwarf Trump, who is worth an estimated $3 billion, and Democratic primary competitor Tom Steyer, who is worth $1.6 billion.