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Photo: Mark Wilson/Getty Images

Michael Bloomberg's 2020 campaign spent more than $188 million in just the last quarter of 2019, according to new FEC data.

Why it matters: Bloomberg didn't officially announce his presidential bid until late November. But in one quarter, his campaign spent more than twice as much as Sen. Bernie Sanders' campaign spent in all of 2019 — $89.9 million.

The big picture: Bloomberg’s spending has the potential to shift the dynamics of the race. While other candidates worry about fundraising enough to stay afloat, the multi-billionaire will be able to fund his campaign almost indefinitely.

  • “Our first month’s filing represents a down payment and commitment in all 50 states to defeat Donald Trump, and it shows we have the resources and plan necessary to take him on," Bloomberg campaign manager Kevin Sheekey said in a statement.

By the numbers: Of the $188 million dollars spent, $132.2 million was spent on TV advertising, according to a campaign aide.

  • $8.19M was spent on digital advertising
  • $3.3M on polling
  • $1.5M on rent
  • $757K on airfare including $646K in private plane use
  • $161K on hotels

Go deeper: DNC's new debate rules open the door for Bloomberg

Go deeper

Scoop: Trump tells confidants he plans to pardon Michael Flynn

Photo: Alex Wroblewski/Getty Images

President Trump has told confidants he plans to pardon his former national security adviser Michael Flynn, who pleaded guilty in December 2017 to lying to the FBI about his Russian contacts, two sources with direct knowledge of the discussions tell Axios.

Behind the scenes: Sources with direct knowledge of the discussions said Flynn will be part of a series of pardons that Trump issues between now and when he leaves office.

Erica Pandey, author of @Work
4 hours ago - World

Remote work shakes up geopolitics

Illustration: Eniola Odetunde/Axios

The global adoption of remote work may leave the rising powers in the East behind.

The big picture: Despite India's and China's economic might, these countries have far fewer remote jobs than the U.S. or Europe. That's affecting the emerging economies' resilience amid the pandemic.

Trump gives Biden access to presidential intelligence briefings

Photo: Mark Makela/Getty Images

The Trump White House on Tuesday gave President-elect Biden access to daily presidential intelligence briefings, a source familiar with the matter tells Axios.

Why it matters: Trump has refused to share the briefs until now, as he continues to challenge the result of the election and declines to concede. The president's acquiescence comes as another sign that the transition to a Biden administration is taking place.