Mike Bloomberg waves to supporters in West Palm Beach, Florida, on Super Tuesday. Photo: Joe Raedle/Getty Images

Never in American history has a presidential candidate spent more to get less than Mike Bloomberg, making his buy-a-nomination bid a big bust. 

Why it matters: Bloomberg spent $600 million to win as many states as every American who chose not to run: zero. (He has American Samoa to show for it.)

  • Fellow billionaire Tom Steyer got off — and out — cheap by spending less than half that much to tie Bloomberg in states won.

What's next: Look for Bloomberg to drop out as soon as this morning, and try to save face by promising to spend a helluva lot more to defeat President Trump with someone other than him.

  • Bloomberg returned to New York after speaking in West Palm Beach last night. Sources expect him to address staff at his headquarters today.
  • He doesn't want history to remember him as the spoiler who helps Sanders win the nomination, or hands re-election to Trump.

What happened:

  • Bloomberg bet Joe Biden was toast. He was wrong. 
  • Bloomberg bet Democrats would rally around him as the Electable One. He was wrong.
  • Bloomberg bet he could buy support with TV ads, while avoiding tough media interviews. He was wrong.
  • Bloomberg bet on a brokered convention. That could still happen, but he appears dead wrong that Democrats would turn to him as their savior.

Bloomberg's rivals — especially Elizabeth Warren — went after aspects of his record as a businessman and former Republican and New York mayor, and Bloomberg stumbled badly in his first debate appearance.

  • They hit him for past lawsuits and court settlements with women in the workplace, New York's stop-and-frisk policy and his views on taxes and China.
  • They seized on the Democratic base's mistrust of billionaires and the #MeToo movement and painted Bloomberg as an out-of-touch elite.

What they're saying: A nighttime Twitter thread by Bloomberg campaign manager Kevin Sheekey gives the candidate an exit strategy if he wants one, and space to redefine success:.

  • Sheekey said that in just 100 days Bloomberg had gone from 1% in polls to being "a contender," and built a national coalition that can defeat Trump.

A Bloomberg campaign official told Axios that the endorsement of Biden by Rep. Jim Clyburn (D-S.C.), and the departures of Amy Klobuchar and Pete Buttigieg from the contest, had a "profound impact" on Super Tuesday's results.

  • "I'm from New York, so I know Bloomberg," supporter Stephen Dickstein told Axios at Bloomberg's rally in West Palm Beach, Florida. "I think he has done an amazing job but he’s not gonna be the nominee."

Go deeper

Supreme Court Justice Ruth Bader Ginsburg dies at 87

Photo: Tom Brenner/Getty Images.

Supreme Court Justice Ruth Bader Ginsburg has died at 87.

Why it matters: Ginsburg had suffered from serious health issues over the past few years, including cancer. Her death sets up a fight over filling a Supreme Court seat with less than 50 days until the election.

NYT: White House drug price negotiations broke down over $100 "Trump Cards"

President Trump with Mark Meadows, his chief of staff, on Sept. 3 at Andrews Air Force Base in Maryland. Photo: Mandel Ngan/AFP via Getty Images

Negotiations on a deal between the White House and pharmaceutical industry to lower drug prices broke down last month after Mark Meadows, the president's chief of staff, insisted that drugmakers pay for $100 cash cards to be mailed to seniors before the election, according to the New York Times.

Why it matters: Some of the drug companies feared that in agreeing to the prescription cards — reportedly dubbed "Trump Cards" by some in the pharmaceutical industry — they would boost Trump's political standing weeks ahead of Election Day with voters over 65, a group that is crucial to the president's reelection bid, per the Times.

In photos: Virginians line up for hours on first day of early voting

Photo: Andrew Caballero-Reynolds/AFP via Getty Images

In some parts of Virginia, people waited in line up to four hours to cast their ballots on the first day of early voting, according to the Washington Post.

The big picture: The COVID-19 pandemic seems to already have an impact on how people cast their votes this election season. As many as 80 million Americans are expected to vote early, by mail or in person, Tom Bonier, CEO of TargetSmart, a Democratic political data firm, told Axios in August.