The Incredible Spending Campaign Of Bloomberg

The tweet above is a few days old, but it gives you a pretty good picture of campaign spending by the Democratic candidates. Michael Bloomberg is doing some outrageous spending -- evidently convinced that spending on advertising can buy him the nomination (and maybe the presidency). He has already spent more on the primary campaign than Hillary Clinton spent on the primary and general election combined in 2016, and more than all other Democrats combined in 2020 -- and he is very likely to spend much more.

This is from Vox.com:

Bloomberg’s vast resources have unlocked a campaign strategy no other candidate could sustain. Because presidential candidates typically operate under a constant threat of running out of cash, they concentrate spending in the early primary states. Bloomberg ignored those states entirely and is blanketing the bigger, more expensive states that vote later in the primary with ads. As a result, he’s shot up in the polls and is challenging Joe Biden for second place.

But here’s the kicker: $417 million is minuscule as a percentage of Bloomberg’s $64 billion net worth. It’s a bit more than six-tenths of 1 percent — the equivalent of someone worth $100,000 spending $650. So far, Bloomberg is throwing pocket change at this election. The torrent of spending he would likely unleash in the general is orders of magnitude beyond anything we’ve seen before.