- Mike Bloomberg just dropped out of the presidential race and endorsed former vice president Joe Biden.
- The former New York City mayor is worth an estimated $58.4 billion, making him the richest person ever to run for president.
- He’s more than 4,600 times richer than the wealthiest Democratic presidential candidate who’s still in the race: Elizabeth Warren.
- Bloomberg gave $3.3 billion to charity last year – more than President Donald Trump’s entire net worth.
- Visit Business Insider’s homepage for more stories.
Mike Bloomberg just dropped out of the Democratic primary after disastrous Super Tuesday results and endorsed former vice president Joe Biden as the nominee.
Despite his failed bid, the former New York City mayor made history by being the richest person to ever run for president in US history. He’s the richest person in the state of New York, and the 12th-richest in the world.
Bloomberg’s $58.4 billion fortune eclipses the wealth of every remaining 2020 presidential candidate. He’s almost 5,000 times richer than Elizabeth Warren, who’s now the wealthiest remaining Democratic presidential candidate.
Bloomberg is about 18 times richer than President Donald Trump, who’s worth an estimated $3.1 billion. In fact, Bloomberg gave away $3.3 billion to charity in 2019 – more than Trump’s entire net worth.
Here are nine facts that show just how rich Bloomberg really is compared to the remaining presidential candidates.
1. Mike Bloomberg just dropped out of the Democratic primary — but he made history by being the richest person ever to run for president.
The former Democratic presidential candidate is worth an estimated $58.4 billion.
2. He spent more than $500 million on ads for his presidential campaign — double what all the other candidates have spent, combined.
Total ad spending by candidates surpassed $1 billion on February 28, CNN reported, based on data from Kantar Media's Campaign Media Analysis Group.
By mid-February, Bloomberg had already spent almost $340 million on campaign ads - more than former President Barack Obama spent in his entire 2012 race.
Before he dropped out last weekend, fellow billionaire Tom Steyer was the second-biggest spender in the race, having spent almost $210 million on ads, according to the group.
President Donald Trump has so far spent $59 million on ads, while Sen. Bernie Sanders has spent about $50.3 million and former Vice President Joe Biden has spent about $14.3 million.
3. Bloomberg is about 19 times richer than the now-richest presidential candidate, incumbent Republican President Donald Trump, who built a reputation of being a superrich real-estate mogul.
Trump's net worth is estimated to be $3.1 billion.
4. In fact, Bloomberg gave away $3.3 billion to charity in 2019 — more than Trump's entire net worth.
Source: New York Magazine
5. The former New York City mayor is almost 5,000 times richer than Elizabeth Warren, who is the wealthiest Democratic candidate now that Bloomberg's out of the race.
Forbes estimates Warren and her husband Bruce Mann's combined net worth from the value of their properties and retirement accounts to be $12 million.
Before he dropped out of the race last weekend, the next-richest Democratic candidate was fellow billionaire Tom Steyer, who's worth an estimated $1.6 billion.
6. Bloomberg is worth 116,800 times the least wealthy Democratic candidate remaining in the 2020 presidential race: Tulsi Gabbard has an estimated $500,000 net worth, according to Forbes.
Rep. Gabbard of Hawaii has not fared well overall in the Democratic primaries so far, winning only one delegate in American Samoa.
7. Bloomberg's net worth is almost 19 times the combined wealth of the rest of the presidential field.
The remaining candidates' net worths are as follows: Trump with $3.1 billion, Warren with $12 million, Biden with $9 million, Sanders with $2.5 million, and Gabbard is worth $500,000, which comes to $3.124 billion.
8. Bloomberg owns at least $100 million worth of real estate, according to The Wall Street Journal. That's $88 million greater than the value of the real estate of the three other leading Democratic presidential candidates — combined.
Biden, Sanders, and Warren together own less than $12 million worth of real estate.
Bloomberg's real-estate portfolio comprises at least 11 properties around the world in places like New York City, the Hamptons, and Bermuda.
The Journal based its analysis and $100 million estimate on data from Zillow, industry sources, and previous listing and sale prices.
9. At his Manhattan campaign headquarters, Bloomberg spent $250,000 on office furniture, according to Politico. That's half the net worth of Rep. Gabbard, and double what former candidate Pete Buttigieg spent on his house.
Politico also reported that some of Bloomberg's top campaign staffers are on track to earn annual salaries of $375,000.
Former Mayor Buttigieg, who dropped out of the presidential race on Sunday, spent $125,000 on his Indiana home.