Bloomberg bets big on Pennsylvania's Shapiro
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Josh Shapiro, governor of Pennsylvania, at an interview during the Democratic National Convention (DNC) in Chicago on Aug. 21, 2024. Photographer: David Paul Morris/Bloomberg via Getty Images
It's not an endorsement for president — yet — but billionaire Democratic megadonor Michael Bloomberg is placing chips on Pennsylvania Gov. Josh Shapiro's reelection campaign.
Why it matters: Bloomberg donated $2.5 million to Shapiro's effort in October — his biggest direct public contribution to a potential 2028 presidential candidate last year, according to campaign finance documents filed this week.
- Shapiro would have an edge in a presidential primary if Bloomberg, one of the world's richest people, were to help bankroll a super PAC or other group for him.
- Howard Wolfson, a longtime Bloomberg adviser, told Axios the former New York City mayor is "a big fan of Gov. Shapiro and a big believer in his leadership, and thinks he's done a great job for Pennsylvania."
- Wolfson, however, added: "Mike has not thought at all through the presidential contest."
By the numbers: Bloomberg is a longtime Shapiro ally who's given at least $5.25 million to his campaigns going back to the latter's 2016 bid for Pennsylvania attorney general.
- In late October 2024, Bloomberg donated $2 million to Shapiro's political committee, which the governor kept active though he wasn't on the ballot that fall.
- Bloomberg gave $500,000 to Shapiro's 2022 gubernatorial campaign and $250,000 to his 2016 attorney general contest.
Between the lines: Gun-control groups backed by Bloomberg, including Everytown for Gun Safety Victory Fund, Moms Demand Action and Students Demand Action, celebrated Shapiro as a champion of their cause when he was elected governor in 2022.
- Everytown for Gun Safety also praised his efforts as attorney general to combat "ghost gun" sales.
It's not surprising Bloomberg would be fond of Shapiro.
- Both are moderate, pro-business Democrats who sometimes push back against the left wing of their party while also championing liberal causes such as gun control.
Reality check: Shapiro is not the only potential 2028 candidate with ties to Bloomberg and his political orbit.
- The billionaire gave $2 million to a group backing Michigan Gov. Gretchen Whitmer (D) during her 2022 campaign.
- Bloomberg also has a relationship with Rahm Emanuel, another potential Democratic presidential contender, from when they were mayors of New York and Chicago, respectively.
Bottom line: Even so, the large donation to Shapiro is likely to be viewed as a sign in Democratic circles — especially among high-dollar donors — that the Pennsylvania governor is a Bloomberg favorite.
- Bloomberg has poured vast sums of money into Democrats and their causes in past elections, spending more than $170 million on the 2020 race, not counting his own presidential campaign that year.
- In 2024, he invested at least $50 million in a group supporting then-Vice President Harris' run for president.
What they're saying: A Shapiro spokesperson didn't respond to a request for comment.
- Asked whether any other big contributions are coming from Bloomberg in the 2026 midterms, Wolfson said: "Stay tuned."
