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Bloomberg shells out millions to help Biden battle Trump in 2024 presidential election rematch

Former New York City mayor, billionaire entrepreneur and media mogul Michael Bloomberg has donated about $20 million to support President Biden in his rematch against former President Trump in the 2024 presidential election, a person familiar with the matter confirmed to Fox News.

Bloomberg, a former Republican turned independent and Democrat, wrote a huge check for $19 million to Future Forward PAC, the main super PAC seeking to put Biden in the White House for a second term.

And Bloomberg, who briefly ran unsuccessfully against Biden for the 2020 Democratic presidential nomination, donated $929,600, the largest amount, to the Biden Victory Fund, a fundraising committee that supports the president’s reelection campaign and various Democratic committees.

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Michael Bromberg speaks at the United Nations Climate Change Conference at the Plaza Hotel in New York City on September 19, 2023. (Brian Beder/Getty Images for Bloomberg Philanthropies)

A source with knowledge of the move confirmed this to Fox News on Thursday night.

“I endorsed Joe Biden in 2020 and am proud to do so again,” Bloomberg said in a statement to The Washington Post, which first reported the huge donation.

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Bloomberg has poured a staggering $1 billion of his own money into the 2020 Democratic presidential nomination race.

Since dropping out of the race, he has shifted about $18 million to Democrats and separately announced he would fund a $100 million independent advertising campaign to help propel Biden into the White House.

President Joe Biden speaks at a podium in Philadelphia

President Biden speaks at a campaign rally in Philadelphia, Pennsylvania on May 29, 2024. (Demetrius Freeman/The Washington Post via Getty Images)

Bloomberg is 82 years old, one year older than Biden. Forbes Magazineis the 15th richest person in the world with a net worth of approximately $106 billion.

As news of Bloomberg’s donation spread, so did rumors that conservative billionaire donor Timothy Mellon gave a staggering $50 million last month to a leading super PAC supporting President Trump in the White House.

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Federal disclosure documents released on Thursday showed that Mellon made the donation to Make America Great Again (MAGA) the day after President Trump was convicted of all 34 felony counts in his criminal trial, the first such donation in U.S. history involving a former or sitting president.

The New York Times first reported the donation from Mr. Mellon, the scion of the Pittsburgh-based Mellon banking family.

Presumed Republican presidential nominee and former president Donald Trump speaks at a campaign event in Racine, Wisconsin, Tuesday, June 18, 2024. (Photo by The Associated Press/Jeffrey Phelps)

Presumed Republican presidential nominee and former president Donald Trump speaks at a campaign event in Racine, Wisconsin, Tuesday, June 18, 2024. (Photo by The Associated Press/Jeffrey Phelps) (AP Photo/Jeffrey Phelps)

MAGA Inc. said in a fundraising filing that it had raised more than $68 million last month, with the bulk of the money coming from Mellon and the remaining $10 million coming from conservative megadonors Dick and Liz Uihlein, founders of Uihlein Shipping and Packaging.

The super PAC announced days after Mellon’s donation that it had $100 million in ad reservations to run pro-Trump ad slots this summer.

Mr. Mellon’s latest donation follows $25 million he gave earlier this fiscal year to MAGA Inc. Mr. Mellon has also given a similar amount to American Values, the main super PAC backing the presidential campaign of Robert F. Kennedy Jr., a Democrat turned independent.

Get the latest 2024 campaign updates, exclusive interviews and more on Fox News Digital’s Election Hub.