Stupor Tuesday: Bloomberg Out After Disastrous, Expensive Electoral Bust

  • Bloomberg exited the race Wednesday and endorsed former Vice President Joe Biden.
  • In 15 state and territorial contests, Bloomberg only won American Samoa, and 5 of its 6 delegates.
  • Bloomberg was harshly criticized, especially by Sen. Elizabeth Warren, for his past government and business practices.

New York billionaire and former Mayor Mike Bloomberg threw in the towel for the Democratic Party’s nomination in this year’s United States presidential election after his disastrous performance in the Super Tuesday primaries. In making his decision official, Bloomberg also announced his support for former Vice President Joe Biden.

Michael Bloomberg is an American businessman, politician, author, and philanthropist. Bloomberg is co-founder, CEO, and owner of Bloomberg L.P., and served as the 108th Mayor of New York City from 2002 to 2013.

“Three months ago, I entered the race to defeat Donald Trump,” Bloomberg tweeted Wednesday. “Today, I’m leaving for the same reason. Defeating Trump starts with uniting behind the candidate with the best shot to do it. It’s clear that is my friend and a great American, Joe Biden.”

Bloomberg won only the U.S. territory of American Samoa Tuesday, and 5 of its 6 delegates. At press time, Bloomberg managed to collect only 53 of the 1,357 delegates up for grabs on Super Tuesday. Biden and Sen. Bernie Sanders (I-VT) came out as big winners, with at least 512 and 441 delegates, respectively, from the 14 states.

In a statement, the tycoon said that, despite leaving the presidential race, he would not give up on the most important political struggle of his life. “I’ve always believed that defeating Donald Trump starts with uniting behind the candidate with the best shot to do it,” Bloomberg said.

Bloomberg invested his own money into his presidential campaign, and broke former President Barack Obama’s record for the most money invested in an American election. He spent some $500 million in advertising alone, on television, radio, and the internet. Bloomberg spent $1,600 on Facebook ads to win American Samoa.

Super Tuesday is the United States presidential primary election day in February or March when the greatest number of U.S. states hold primary elections and caucuses. Alabama, American Samoa, Arkansas, California, Colorado, Maine, Massachusetts, Minnesota, North Carolina, Oklahoma, Tennessee, Texas, Utah, Vermont, and Virginia all held their presidential primaries on that date.

His electoral strategy, however, proved to be flawed. Bloomberg had announced his run for the Democratic nomination only in November, when all the contestants were already in place, and decided to dodge the party’s first four preliminary contests to bet on a substantial Super Tuesday result. In his first of two debate performances, on February 19 in Las Vegas, the tycoon was hesitant in the face of attacks by his competitors, especially Sen. Elizabeth Warren (D-MA), on his liabilities as a businessman and politician.

Bloomberg was criticized harshly for the “stop and frisk” policy adopted by the New York Police Department in his administration at City Hall. He also spoke in support of this measure, which was leaked to the news media, as it was applied disproportionately against members of the African-American and Latino communities. 

The businessman was also questioned on practices in his business empire, Bloomberg L.P., such as pressure on female employees to sign confidential non-disclosure agreements to prevent them from suing for sexual harassment. Given his commitment to Trump’s defeat in the November elections, the tycoon is expected to remain an active supporter of Biden’s candidacy, and to use his influence in the business and financial sectors in favor of his endorsement.

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Vincent Ferdinand

News reporting is my thing. My view of what is happening in our world is colored by my love of history and how the past influences events taking place in the present time.  I like reading politics and writing articles. It was said by Geoffrey C. Ward, "Journalism is merely history's first draft." Everyone who writes about what is happening today is indeed, writing a small part of our history.

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