Bloomberg is on the verge of a White House run as he breaks ad spending record
Michael R. Bloomberg has reserved a huge block of television advertising across the nation next week in another sign that the former New York mayor is on the verge of announcing a run for the Democratic presidential nomination.
The billionaire finance and media mogul is spending at least $31 million on a week of TV commercials starting Monday, according to Advertising Analytics, an ad tracking firm. It is the most money ever spent by any candidate for one week of advertising, breaking the $25-million record set by President Obama at the end of his 2012 reelection campaign, the firm said.
“Mike is prepared to spend what it takes to defeat Donald Trump,” Bloomberg spokesman Jason Schechter said. The breadth of Bloomberg’s ad buy is unusual for a presidential primary. He reserved ad time in dozens of media markets, including some of the most expensive in the country: New York, Los Angeles, Chicago, Dallas, Philadelphia, Miami, Denver, Cleveland, Phoenix and Detroit.The ad buy is the clearest sign yet that Bloomberg, whose fortune Forbes pegs at $54 billion, will far outspend more than a dozen rivals if he joins the race for his party’s nomination to challenge President Trump.
It’s also a signal that Bloomberg, 77, would be using his vast resources to run a national campaign on a scale far beyond what any other White House candidate can afford. At the end of September, Vermont Sen. Bernie Sanders was the only one with more than $31 million in the bank, according to the most recent finance reports.
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