Michael R. Bloomberg, the former mayor of New York City and a prominent Democratic donor, has recently made a substantial donation of nearly $20 million to support President Biden’s re-election campaign. According to a representative from Bloomberg, he contributed $19 million to Future Forward, the primary Democratic super PAC backing Mr. Biden, as well as $929,600 to the Biden Victory Fund, a fundraising committee shared between Mr. Biden and the Democratic National Committee.
This generous donation from Mr. Bloomberg comes as no surprise, as he has been a steadfast supporter of President Biden. In a statement, Mr. Bloomberg expressed his pride in standing with Joe Biden once again, recalling his support for the President during the 2020 campaign. Despite his own unsuccessful bid for the presidency in 2020, where he spent a staggering $1 billion of his personal funds, Mr. Bloomberg shifted his support to Mr. Biden during the Democratic primaries and went on to become a significant financial contributor to his campaign.
During the 2020 election cycle, Mr. Bloomberg channeled tens of millions of dollars through his political action committee towards television advertisements in support of Mr. Biden. He specifically targeted the crucial state of Florida, which was ultimately won by then-President Donald J. Trump, though by a narrow margin of about three percentage points. While Mr. Bloomberg’s $19 million donation to Future Forward is substantial, it is just a fraction of the super PAC’s overall spending plans for the upcoming election.
Future Forward has set aside a massive $250 million budget for an advertising campaign across seven battleground states, scheduled to commence in August and continue through to Election Day. This significant financial backing from Mr. Bloomberg underscores his commitment to supporting President Biden’s re-election efforts and his dedication to advancing the Democratic agenda.
As a prominent figure in both politics and philanthropy, Michael R. Bloomberg’s continued support for President Biden highlights the importance of unity and collaboration within the Democratic party. His generous donation serves as a testament to his belief in President Biden’s leadership and vision for the country, reinforcing the crucial role that financial contributions play in shaping the outcome of political campaigns. With the 2024 election on the horizon, Mr. Bloomberg’s commitment to supporting President Biden’s re-election bid sends a powerful message of solidarity and determination within the Democratic party.