I don’t normally like to kick a person when they’re down, but when the person you’re kicking is worth $62 billion… I think we can make an exception. In case you hadn’t heard, Michael Bloomberg just dropped out of the 2020 Presidential race. That comes just four months after he entered the race. Over those months, Mike spent a not-so-mini fortune on his campaign. Did anyone in the US not receive around 10 Bloomberg pamphlets in the mail recently? You literally couldn’t avoid his commercials online and on television. It was a truly stunning display of air-wave inundation.
Mike employed 2,500 people around the country. He spent around $400 million on TV ads alone, roughly $40 million leading up to Super Tuesday. In total, Mike spent a mind-blowing $500 million on his failed campaign. That is the most expensive self-funded campaign of all time.
Photo by Oli Scarff/Getty Images
For what it’s worth, Mike spent a little less than 1% of his net worth on this campaign. He will probably make that $500 million back through interest and dividends in a few years… HOWEVER… one must spend a few minutes chronicling a few things Mike could have bought with that $500 million had he not flirted with politics from November 2019 to March 2020.
Table of Contents
- Biography of Michael Bloomberg
- Campaign Spending Analysis
- Potential Purchases with $500 Million
- Final Thoughts
Biography of Michael Bloomberg
Michael Bloomberg is an influential figure known for his numerous ventures as an entrepreneur, politician, and philanthropist. Born on February 14, 1942, in Boston, Massachusetts, he graduated from Johns Hopkins University and later earned an MBA from Harvard Business School. His career began at Salomon Brothers, a major investment bank, where he quickly rose to prominence.
In 1981, he founded Bloomberg L.P., a global financial services, software, and media company. His innovative ideas in financial data and analytics transformed the industry, making him a billionaire. Beyond business, Bloomberg served as the Mayor of New York City from 2002 to 2013, significantly impacting public policy and urban development.
| Personal Details | Bio Data |
|---|---|
| Name | Michael Bloomberg |
| Date of Birth | February 14, 1942 |
| Education | Johns Hopkins University, Harvard Business School |
| Profession | Businessman, Politician, Philanthropist |
| Net Worth | $62 Billion |
Campaign Spending Analysis
During the 2020 Presidential race, Bloomberg's spending was unprecedented. He invested heavily in advertising, employing a vast network of staff and resources to promote his candidacy. His strategy included a massive budget of around $500 million, making it the most expensive self-funded campaign in history.
With $400 million allocated to television ads alone, Bloomberg's presence was inescapable. He targeted voters through various media, ensuring that his message reached a broad audience. Despite these efforts, the outcome did not align with his financial investment, leading to his withdrawal from the race.
Potential Purchases with $500 Million
Had Bloomberg chosen to allocate his funds differently, he could have made remarkable purchases. Here’s a glimpse of what $500 million could have bought:
- 7 Gulfstream G650s ($65 million each)
- All 200 Ferrari LaFerrari Apertas in existence, with $60 million to spare
- All 24 private islands in the Bahamas currently listed on Sotheby’s
- 7 trips to the International Space Station ($72 million each)
- The eternal love of 500 strangers with $1 million each
- 5 Vincent Van Gogh paintings
- One Saudi Prince’s Airbus A380 private jet
- 1.7 million shares of Apple
- Richard Branson’s Necker Island with $300 million to spare
Final Thoughts
Bloomberg's campaign serves as a compelling case study on political spending and its impacts. While he may recoup his $500 million through investments, the question remains: was it worth it? Reflecting on the potential purchases, it is evident that this money could have created significant personal or philanthropic opportunities.
In the end, the fascinating juxtaposition of Bloomberg’s financial decisions and the realities of political ambition illustrates the complexities of modern campaigning. Whether he made a sound investment or a costly mistake will be debated for years to come.
