The one-time Democrat Party presidential hopeful and former mayor of New York City is now supporting President Joe Biden’s campaign.
Michael Bloomberg, one of the most prominent liberal donors in the United States, is throwing his financial weight behind President Joe Biden.
On June 20, a pair of committees linked to the president’s reelection effort published their monthly disclosures with the Federal Election Commission. The filings showed Biden For President and FF PAC collectively raised about $77.1 million in May. Together, the two groups ended the month with about $183.9 million in cash on hand.
In a June 20 statement to the press, the principal campaign committee for Biden For President announced that the campaign raised more than $85 million during the month and entered June with a “$212 million war chest.”
However, the release did not specify where those funds were deposited. Furthermore, the claims cannot be independently verified because not every committee associated with President Biden released disclosure statements on June 20. A full accounting cannot be performed until the president’s joint fundraising committees publish their financials on July 15.
While the documents do not provide a complete picture of the president’s campaign finances, they shed light on who is offering millions to support his campaign.
Bloomberg Steps Up
President Biden’s allied hybrid political action committee received an eight-figure boost in May.
On May 30, former New York Mayor Michael Bloomberg sent FF PAC, or Future Forward, $19 million. The check was the largest cashed by the Biden-supporting PAC in 2024.
Mr. Bloomberg, the founder of the media and financial services company Bloomberg LP, served as New York City’s mayor from January 2002 to December 2013. He was elected as a Republican and changed to an independent in 2007. He briefly ran for president as a Democrat in 2020.
The former mayor and billionaire entrepreneur is the current chair of the Defense Innovation Board. The board exists to consult the U.S. Department of Defense “on catalyzing innovation,” according to its website. Reid Hoffman, a fellow Democrat Party megadonor and Future Forward supporter, also sits on the Board.
