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Mike Bloomberg spent more than $1 billion during his presidential run in 2020.

A Federal Election Commission filing shows that Mike Bloomberg spent more than $1 billion during the 2020 presidential run.

A Federal Election Commission filing shows that Mike Bloomberg spent more than $1 billion during the 2020 presidential run.The claim that former New York City Mayor Michael Rubens Bloomberg shelled out over $1 billion for the presidential run for November 3, 2020 elections is True. According to the New York Times, the amount is most-ever for a self-funded politician in American history.

According to the billionaire's campaign finance report with the Federal Election Commission, he spent $176 million in March for a four-month-long campaign. He further spent $500 million on television advertising and $100 million on digital advertisements. He also spent several million on pollsters, media consultants, and digital strategists.

The NYT reports that the former Mayor spent $15 million on polling, $11.5 million to pollster Douglas Schoen, $11 million on the firm created by ad-maker Bill Knapp, $4.8 million on Jimmy Siegel firm, $45 million to Hawkfish LLC, more than $30 million for direct mail and over $1 million on staff meals.

The report further states that the billionaire substantially increased the rate of his spending in February by spending $466 million in only 29 days and accrued $31 million in bills. That adds up to approximately $17 million per day, which was the entire budget of some presidential candidates.

The Democrat had also hired aides at big salaries and promised them perks, including Manhattan apartments for some a promise of a steady job for others. However, he reneged on his word after he couldn't win a single state before dropping out of the 2020 Democratic presidential primary in early March.

After his defeat, Bloomberg's campaign officials transferred $18 million in leftover campaign funds to the Democratic National Committee. An FEC complaint from the Republicans followed the massive transfer, Politico reported.

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