Mike Bloomberg is Prepared to Spend This Much Money if He Runs for President

The 2020 election is less than two years away and some are already preparing to run against current president Donald Trump.

One person who may run is billionaire Mike Bloomberg and he is prepared to spend a minimum of $100 million if he does.

The former New York City mayor may have one of the largest 2020 budgets compared to other Democratic presidential candidates. His senior political strategist Howard Wolfson spoke with CNBC via email and said, “Mike spent more than $100 million in his last mayor’s race. Last time I looked NYC is a fraction of the size of the country as a whole.”

Bloomberg has the number 10 slot on the Forbes list of the wealthiest Americans and has a net worth of $40 billion.

According to CNBC, Bloomberg has no plans to accept outside money from political action committees. “Mike has run for office three times and never took a dime of PAC money. Not sure why that would change now,” Wolfson said.

He spent over $110 million when he backed Democrats during the 2018 congressional midterm elections. Wolfson said that Bloomberg is prepared to spend on his own campaign, “whatever is required.”

It was this year that Bloomberg switched his party affiliation from independent to Democrat. He was a Republican during his first two terms as mayor.