Former New York City mayor and billionaire businessman Michael Bloomberg became the second-largest individual donor to Vice President Kamala Harris’ campaign after George Soros, following a reported $50 million donation to the main super PAC funding the vice president’s campaign.
Bloomberg donated nearly $20 million over the summer to support President Biden’s re-election campaign, but he conspicuously held out any donations to Harris after she replaced Biden on the Democratic Party’s ticket. However, amid pressure from fellow billionaires, Bloomberg did finally cut a check to support Harris, according to The New York Times, which reportedly spoke with four people who are familiar with the donation.
The $50 million went to Future Forward USA Action, the main dark money super PAC that is supporting Harris. Prior to Harris taking over the ticket, Future Forward was the main political action committee supporting Biden.
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Bloomberg’s donation follows another $50 million donation to Future Forward from Bill Gates. Sources who spoke to the Times indicated that Bloomberg and his team had been fielding requests from high-profile Democratic donors, such as Gates, LinkedIn co-founder Reid Hoffman and venture capitalist Ron Conway, urging the former mayor to consider cutting a check for Harris. Two people familiar with the matter said that Bloomberg also recently spoke with Harris over the phone.
Mayor Mike Bloomberg, left, and New England Patriots owner Robert Kraft converse during the annual Alfred E. Smith Foundation Dinner at the New York Hilton Midtown on Oct. 17, 2024 in New York City. (Photo by Michael M. Santiago/Getty Images)
Michael Smith, president of House Majority PAC, defended Bloomberg’s decision to wait until the final days before the election to donate, calling the move “deliberate” and “sophisticated,” according to the Times. “There should be no expectation that any individual donor is just going to give to you,” Smith argued. “Mike’s not giving money to anyone just to give money.”
Meanwhile, Quentin James, the founder and president of Collective PAC, told The Times that he “very clearly” disagrees with the strategy “because time, not late money, is always our best weapon.”
From left to right, President Biden, former NYC Mayor Michael Bloomberg and former President Donald Trump attend the annual 9/11 Commemoration Ceremony at the National 9/11 Memorial and Museum on Sept. 11, 2024 in New York City. (Photo by Michael M. Santiago/Getty Images)
Prior to Bloomberg’s most recent donation, the former New York City mayor had given roughly $47 million in federally disclosed political contributions this cycle, according to reports. That included his nearly $20 million given to Biden before he dropped out, which went to Future Forward, and another $10 million to support Democrats in the House.
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The Times reported that Bloomberg was hesitant to give additional funds to Future Forward beyond his initial $20 million he gave when Biden was running, with the billionaire citing the success the vice president was already having fundraising.
President Biden, left, and former New York City Mayor Michael R. Bloomberg, founder of Bloomberg Philanthropies, shake hands on stage at the Bloomberg Global Business Forum on Sept. 24, 2024 in New York City. (Photo by Bryan Bedder/Getty Images for Bloomberg Philanthropies)
According to The Times, Bloomberg felt spending his money on ballot initiatives and other state initiatives was a bigger priority. Just this week, Bloomberg gave $2.5 million to oppose a ballot measure in Massachusetts that aims to get rid of standardized testing requirements for high school graduates.
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Bloomberg’s donations this cycle are much smaller than they were in 2020. After breaking spending records on his own campaign that year, Bloomberg dropped out but continued helping Democrats to the tune of around $173 million. It was reported that he gave $100 million alone to Biden just to help him win in the state of Florida. Bloomberg’s $173 million in 2020 is $126 million more than he spent in this current presidential cycle.
Fox News Digital reached out to Bloomberg Philanthropies, but the group declined to comment.