Bloomberg’s final bill: $1 billion for a 104-day campaign
April 20, 2020
Mike Bloomberg ended his ill-fated presidential bid on March 4, but his campaign still shelled out nine figures last month anyway, taking his total spending to more than $1 billion in a losing run for the Democratic nomination.
The billionaire’s campaign spent $176 million in March, according to the campaign finance report Bloomberg filed with the Federal Election Commission on Monday. That pushed his spending north of $1 billion for a campaign that lasted a bit over four months.
It isn’t unusual for campaigns to spend some money after they end — but the staggering size of Bloomberg’s post-dropout spending illustrates the unusual scale of his campaign, which ultimately saw the media mogul win only one contest: American Samoa. He did net delegates on Super Tuesday as well, but he spent more than $17 million for each delegate acquired.
Bloomberg’s campaign paid out $23.3 million in salary, fringe benefits and payroll taxes and fees in March alone, according to the campaign finance filing. However, the billionaire also left many former staffers furious by cutting them loose last month. Bloomberg’s campaign enticed Democratic operatives across the country with promises of a paying job through the November election, regardless of whether he ultimately won the nomination or not.
But Bloomberg reneged on that promise, scrapping plans to form his own super PAC and eventually transferring $18 million to the Democratic National Committee instead to bolster the party committee’s field program. Staffers who wanted to work at the DNC had to reapply for jobs, with some staffers getting paid through the first week in April and getting full benefits through the end of the month, according to a release at the time.
The big transfer to the DNC also pushed the boundaries of a campaign finance law and sparked a FEC complaint from Republicans. As a regular citizen, Bloomberg would not be able to donate such a massive sum to the DNC or any other groups that have campaign finance limits. But presidential campaigns can transfer unlimited amounts to their national party committee — and a DNC lawyer argued that the transfer was in the clear because Bloomberg donated the money to his presidential campaign while he was still running, which then gave the money to the DNC after he dropped out.
In addition to the $18 million transfer to the DNC, the Bloomberg campaign reported about $831,000 of in-kind transfers of office space and computer equipment to various state Democratic Party organizations.
The Bloomberg campaign also reported $11.6 million in polling expenses in March. The campaign reported $53.6 million in digital, print, direct mail and radio advertising in March.
Bernie Sanders, who ended his campaign more than a month after Bloomberg suspended his bid and notched more wins than the former New York City mayor, spent a total of $198.5 million on his campaign through the end of March, according to his most recent filing.
Joe Biden, the presumptive Democratic nominee, has not yet filed his campaign finance report covering March, but through the end of April the former vice president spent just under $76 million on his campaign.
Source: https://www.politico.com/
