Former NYC Mayor Mike Bloomberg endorses Biden, gives $20 million to re-election effort

Billionaire former New York City Mayor Mike Bloomberg endorsed President Biden Thursday and has contributed $20 million toward the incumbent’s re-election effort, according to multiple reports.

“I stood with Joe Biden in 2020, and I am proud to do so again,” Bloomberg, 82, told the Washington Post.

Future Forward USA PAC, a pro-Biden group also known as FF PAC, received $19 million from the former three-term mayor, according to the Washington Post and Reuters.

The Biden Victory Fund, a joint fundraising committee authorized by the president’s campaign and the Democratic National Committee, received $929,600 from the Bloomberg L.P. co-founder, the outlets reported.

Biden, 81, awarded Bloomberg the Presidential Medal of Freedom last month during a White House ceremony.

“From finance to media to philanthropy, Michael Bloomberg has revolutionized our economy. He’s transformed how we consume information,” Biden said as he bestowed Bloomberg with the nation’s highest civilian honor.

“He’s changed us. He’s challenged us as well, to solve the toughest challenges, from gun violence to climate change. And as mayor, he rebuilt the City of New York after 9/11, channeling our spirit of resilience as a nation and a beacon to the world. Michael, thank you Mr. Mayor.”

Bloomberg made his fortune with financial technology and served as New York City mayor from 2002-2013, initially as a Republican and then as an independent.

He re-registered as a Democrat in 2018 – the party he affiliated himself with prior to his mayoral career – and spent more than $1 billion on an unsuccessful 2020 White House run, in which he competed against Biden in the Democratic primaries.

Bloomberg’s net worth is reported to be $106 billion, according to Forbes — landing him just outside the top 10 on its list of the world’s top billionaires.