Former New York Mayor, Michael Bloomberg is dropping out of the democratic presidential nominations, following dismal performance on Super Tuesday. In a letter send to his staff, Bloomberg indicated that there was no pathway to democratic presidential nomination.
Additionally, Mayor Bloomberg has indicated that he will support Former Vice President Joe Biden. Super Tuesday results indicated that Bloomberg scored a win in American Samoa, an American territory where he won 4 delegates. His campaign had banked heavily on big wins in states like Texas, North Carolina, California and a host of other super Tuesday states.
Michael Bloomberg with a net worth of 60 billion dollars spent 560 Million dollars in advertisements hoping that this would yield results that would propel him to the front line of the democratic nomination.
With his 4 delegates won, that would translate to 100M spent to win each delegate.
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