This may be the real reason Bloomberg would enter the race: to dump Donald Trump.
The man is at least 3X richer than Trump. And he has a track record, as Bloomberg made a fortune ripping off the people of New York. They seem ok with it, as Bloomberg’s fortune rose from $4.8 billion when he was first mayor to over $30 billion while having a full time job as mayor.
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Further, Bloomberg’s entry might be the Left’s way of saying, “Our billionaire is bigger than your billionaire.”
As reported in Politico,Trump talks big, but he’s not really spending a lot of money.
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Donald Trump often says that he does not get enough credit for self-funding his presidential campaign. But as his recent financial disclosure reveals, he is not funding most of it.
Instead, the majority of his campaign funding comes from donors. This quarter, the campaign received 73,942 “unsolicited donations” totaling about $3.7 million, according to a release from the campaign. That accounts for most of the $5.8 million the campaign has taken in to date.
Trump has contributed to financing his campaign through in-kind gifts and loans.
In the third quarter, he made about $100,000 in in-kind contributions to his campaign.
That’s in addition to the $1.8 million Trump previously loaned the campaign. Trump can pay himself back for the loan with campaign funds at any point.
At the same time, Trump’s businesses have charged significant rent to the campaign. The campaign paid $144,000 for rent in the third quarter to Trump Tower Commercial LLC, Trump Restaurants LLC and the Trump Corp.
Bloomberg on the other hand will spend, and he will spend BIG. He spent $105 million to get re-elected as Mayor of New York City, so there is no telling what he will spend to be president. With his coin he can buy up all the billboards and other media.
One thing is for sure, if Bloomberg enters, Trump will have to spend a good part of the Trump fortune. That may be just what the Left wants Trump to have to do, as it would clear a path for Hillary Clinton.
Would Bloomberg jump out of the race after the damage is done? That’s a good question.