Billionaire Michael Bloomberg, the creator of the namesake media business, endorsed President Joe Biden on Thursday and contributed $20 million to his re-election campaign.
Bloomberg contributed $19 million to the independent, pro-Biden PAC “Future Forward” and approximately $1 million more to the Biden Victory Fund, which is a combination of the Biden campaign and Democratic Party Committees.
Bloomberg converted from Democrat to Republican to compete for Mayor of New York City in 2001. He won the election and served as mayor until the end of 2013.
Shortly after Trump’s inauguration, the billionaire rejoined the Democratic Party.
Bloomberg, who has a net worth of $106 billion, ran for president as a Democrat against Biden in 2020 before withdrawing and supporting Biden’s campaign against Trump.
Last month, Biden awarded Bloomberg the Presidential Medal of Freedom, the nation’s highest civilian honor.
Bloomberg lambasted Trump in 2020, claiming he would “defeat” him.
In the 2020 election campaign, Bloomberg spent $100 million in Florida to assist Biden win the state. That strategy failed, as Trump carried Florida by more than three percentage points.
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