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Michael Bloomberg spent $1 billion on presidential bid

During his 104-day campaign, Bloomberg spent an average of $10 million a day.

Former Democratic presidential candidate Michael Bloomberg invested about $1.05 billion of his $60 billion fortune into his own failed attempt at the Democratic nomination, according to fillings from with the Federal Election Commission made Monday.

Bloomberg previously committed to running an outside group that would take on Trump. He shelved those plans, but donated $18 million in remaining campaign funds to the Democratic National Committee.

The billionaire dropped out of the presidential race on March 4, one day after a poor performance in the Super Tuesday contests. Bloomberg's had a planned strategy to skip early caucus and primary states including Iowa, New Hampshire, Nevada and South Carolina. On Super Tuesday, Bloomberg was only able to pull out one win in the U.S. territory of American Samoa. 

In total, Bloomberg won 55 delegates. 

According to POLITICO, Bloomberg sent more than $17 million for each delegate earned. 

With Forbes estimating his worth at $55.2 billion, and the 16th richest person in the world, Bloomberg almost entirely self-funded his campaign. 

Of the billion dollars he spent, more than half was spent on TV, radio and digital ads, according to Bloomberg News. This included a single $10 billion ad that aired during the Super Bowl

Credit: AP
Democratic presidential candidates, former New York City Mayor Mike Bloomberg arrives for a Democratic presidential primary debate Wednesday, Feb. 19, 2020, in Las Vegas, hosted by NBC News and MSNBC. (AP Photo/Matt York)

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In March, Bloomberg spent $176 million as his campaign came to an end. During this time, his campaign transferred $18 million to the Democratic National Committee and $831,000 to various state Democratic Party organizations. 

Bloomberg's campaign lasted 104 days, meaning he spent about $10 million a day to keep his campaign running. 

Since dropping out out of the presidential contest, Bloomberg has endorsed Biden for president. 

The Associated Press contributed to this report.

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