According to two sources familiar with the matter, billionaire Mike Bloomberg has donated nearly $20 million to support Democratic President Joe Biden’s re-election campaign against former Republican President Donald Trump. Bloomberg’s contribution includes $19 million to an independent pro-Biden group called Future Forward or FF PAC, as well as over $900,000 to the Biden Victory Fund, which combines the Biden campaign and Democratic Party committees. The Washington Post initially reported on these donations. The Biden campaign has not yet responded to a request for comment.
Bloomberg, the former New York mayor who spent $1 billion of his own money on an unsuccessful 2020 presidential bid, contributed at least $100 million to support Biden’s campaign against Trump in Florida. Despite Trump winning Florida by over three percentage points, Biden and Trump have been closely tied in national polls.
Democrats have maintained a financial advantage over Trump, and Biden’s campaign continues to have a significantly larger amount of money. As of the end of April, Biden’s campaign reported $84 million in funds, compared to Trump’s reported $49 million.
However, in April, the Biden campaign’s fundraising fell behind Trump’s for the first time. This occurred after the former president intensified his joint efforts with the Republican National Committee and headlined high-dollar fundraisers.
According to Federal Election Commission records, spending groups supporting Trump have invested over $25 million since he secured the Republican nomination on March 6. In comparison, Biden’s allies have spent over $15 million during the same period. The report was compiled by Kanishka Singh and Nandita Bose in Washington, with editing by Diane Craft.