Nov 8, 2019

Exclusive: Mike Bloomberg will "spend whatever it takes" in 2020

Photo: Paul Morigi/Getty Images for Bloomberg Philanthropies

Mike Bloomberg is jumping into the Democratic presidential race because he believes that Joe Biden is fading, opening the moderate lane next to Elizabeth Warren, sources close to the former New York mayor tell Axios.

Why it matters: "Mike will spend whatever it takes to defeat Donald Trump," a Bloomberg source said. "The nation is about to see a very different campaign than we’ve ever seen before."

  • I'm told there's no way he'll later run as a third-party or independent candidate, partly because of ballot-access hurdles.

Theory of the case: Bloomberg, who according to Forbes is worth $52 billion, will self-fund, allowing him to run an essentially national campaign at a time when the rest of the field is raising money and focusing on early states.

  • Bloomberg, who will make a final decision "soon," isn't expected to seek or accept campaign contributions, according to a second source.
  • Bloomberg had been focused on how he could best influence 2020 from the outside. But he increasingly became concerned that all the leading Democrats have weaknesses Trump could exploit in the general election.
  • Bloomberg sees himself as an anti-Trump: practical and pragmatic, a self-made business leader, committed to issues such as climate and guns, and someone who recognizes the value of multilateralism and coalitions over isolationism.

What's next: The Bloomberg buzz ignited yesterday with the news that he'll file today to qualify for the primary in Alabama, which has an early filing deadline.

  • I'm told he'll quickly ramp up in other states with deadlines approaching, including Arkansas, New Hampshire, Florida, California and Texas.

Reality check: Given the progressive tides in the Democratic Party, there's no sign that a 77-year-old billionaire is what primary voters are pining for.

  • Biden is sucking wind on money, and now Bloomberg is moving into his lane with unlimited cash.

Go deeper: Michael Bloomberg is giving his friends a copy of his new biography

Go deeper

Poll: 4% of Democratic primary voters would support Bloomberg

Photo: Jeff Kowalsky/AFP via Getty Images

A new Morning Consult poll found that 4% of 2,225 registered Democratic voters said billionaire and former New York City Mayor Mike Bloomberg would be their first choice to take on President Trump next year.

Why it matters: The poll places the former mayor of New York City above 10 candidates currently in the race, including Sens. Amy Klobuchar and Cory Booker and entrepreneur Andrew Yang.

Go deeperArrowNov 10, 2019

Mike Bloomberg officially announces presidential run

Photo: Yana Paskova/Getty Images

Billionaire and former New York Mayor Mike Bloomberg officially announced on Sunday that he's running for president as a Democrat.

"I’m running for president to defeat Donald Trump and rebuild America. We cannot afford four more years of President Trump’s reckless and unethical actions. He represents an existential threat to our country and our values. If he wins another term in office, we may never recover from the damage. The stakes could not be higher. We must win this election. And we must begin rebuilding America. I believe my unique set of experiences in business, government, and philanthropy will enable me to win and lead."
— Mike Bloomberg
Go deeperArrowNov 24, 2019

Trump campaign to blacklist Bloomberg News

Trump at a rally in Florida on Nov. 26. Photo: Paul Hennessy/SOPA Images/LightRocket via Getty Images

President Trump's 2020 campaign announced Monday it will no longer allow reporters from Bloomberg News to obtain credentials to cover Trump campaign events.

The big picture: Campaign manager Brad Parscale described the decision to ban Bloomberg reporters as a reaction to Bloomberg News' announcement that it would no longer do investigative journalism on Democratic 2020 candidates, following the entry of the media outlet's owner, Mike Bloomberg, into the presidential race.

Go deeperArrowDec 2, 2019