Bloomberg to transfer $18M to DNC in effort to defeat Trump

While Michael Bloomberg’s bid for President was a failure, he has transferred $18 million to the DNC in an effort to defeat President Trump.

Of course, $18 million is just a relatively small fraction of the more than half billion he spent to try to catapult himself to President.

After Bloomberg dropped out, Trump tweeted:

Mini Mike Bloomberg just “quit” the race for President. I could have told him long ago that he didn’t have what it takes, and he would have saved himself a billion dollars, the real cost. Now he will pour money into Sleepy Joe’s campaign, hoping to save face. It won’t work!

TheHill reports former New York City Mayor Michael Bloomberg will transfer $18 million to the Democratic National Committee (DNC) and plans to consolidate his massive campaign organization behind the national party in an effort to defeat President Trump in November.

Bloomberg, who spent more than $500 million on his own doomed campaign for the Democratic nomination, has endorsed former Vice President Joe Biden for president. Biden has opened up a big lead in delegates over Sen. Bernie Sanders (I-Vt.) and is widely viewed as the party’s likely nominee.

The $18 million donation from Bloomberg is $6 million more than the DNC raised in all of February and is nearly double the national party’s January haul.

The gift of money and organization mark a huge windfall for the DNC, which has not been remotely competitive with the Republican National Committee on either front in recent years.

Bloomberg had previously planned to launch his own independent entity to support the Democratic nominee Trump.

Instead, Bloomberg has decided that his money and organization would be better utilized under one roof at the DNC.

“While we considered creating our own independent entity to support the nominee and hold the President accountable, this race is too important to have many competing groups with good intentions but that are not coordinated and united in strategy and execution,” Bloomberg said in a memo to DNC chairman Tom Perez.