Billionaire media mogul Michael Bloomberg’s strategy to invest heavily in the delegate-rich Super Tuesday states did not pay off. In fact, the presidential hopeful, long considered a dark horse by the pundit class, did not finish better than third place in any of last night’s primaries.
“Three months ago, I entered the race for President to defeat Donald Trump,” Bloomberg said in a statement. “Today, I am leaving the race for the same reason: to defeat Donald Trump – because it is clear to me that staying in would make achieving that goal more difficult.”
Bloomberg’s embarrassing finish Tuesday night was the first time he was on the ballot.
The billionaire and former New York City mayor spent more than $500 million on campaign advertising, but of the 14 states and territories at stake on March 3, he was only able to take American Samoa.
Bloomberg jumped into the campaign for the Democratic nomination in November, following weeks of teasing a potential bid. Earlier in 2019, Bloomberg had completely ruled out the possibility of running for president.
Bloomberg’s late entry and his campaign’s nascent ground game forced him to bypass the critical early states of Iowa, New Hampshire, and South Carolina