Billionaire former New York City Mayor Mike Bloomberg endorsed President Biden on Thursday, donating $20 million to the incumbent president’s re-election campaign, according to multiple reports.
“I endorsed Joe Biden in 2020 and am proud to do so again,” Bloomberg, 82, told The Washington Post.
Future Forward USAPAC, also known as FF PAC, a pro-Biden group, said it received $19 million from the former three-term mayor. The Washington Post and Reuters.
The Biden Victory Fund, a joint fundraising committee authorized by the presidential campaign and the Democratic National Committee, received $929,600 from the co-founder of Bloomberg LP, according to the report.
President Biden, 81, awarded Bloomberg the Presidential Medal of Freedom in a White House ceremony last month.
“From finance to media to philanthropy, Michael Bloomberg revolutionized our economy. He changed the way we consume information,” Biden said as he awarded Bloomberg the nation’s highest civilian honor.
“He changed us. He challenged us to solve our toughest challenges, from gun violence to climate change. And as Mayor, he rebuilt New York City after 9/11 and channeled our spirit of resilience as a beacon to our nation and the world. Thank you, Michael, Mayor.”
Bloomberg made his fortune in financial technology and served as mayor of New York City from 2002 to 2013, first as a Republican and then as an independent.
He re-registered as a Democrat in 2018, a membership he held before becoming mayor, and spent more than $1 billion on his unsuccessful 2020 White House bid against Biden in the Democratic primary.
Bloomberg’s net worth is reported to be $106 billion. According to Forbes This has placed him just outside the top 10 on the list of the world’s top billionaires.
It’s unclear when he made the donation to Biden’s reelection campaign.
The Biden campaign and the Democratic National Committee raised a combined $85 million in May in preparation for the 2024 presidential election.
