There is a shakeup at the top of the Democratic presidential primary tier list as billionaire Michael Bloomberg is now fourth, passing South Bend Mayor Pete Buttigieg.
Reuters reports Bloomberg has spent $76 million in television ads and marketing as an attempt to play catch-up for his late entry into the primary race.
According to the latest Reuters/Ipsos poll taken from December 18-19, former Vice President Joe Biden still leads the pack with 18 percent support. He is followed by Senators Bernie Sanders and Elizabeth Warren at 15 percent and 10 percent respectively. Bloomberg is fourth with 5 percent and Buttigieg follows with 4 percent.
Bloomberg’s colossal spending figure on television ads is almost six times more than each of these other candidates’ spending combined, Reuters reports.
From the report:
Ranked by Forbes as the eighth-richest American, Bloomberg has flooded U.S. airwaves and social media feeds with messages that he stands the best chance to beat Trump.
He has spent over $76 million on television ads since Nov. 16, while Biden, Warren, Sanders and Buttigieg have spent a combined $13.2 million all year, according to an analysis by the Wesleyan Media Project citing Kantar/CMAG political ad data.
Bloomberg has even outspent Tom Steyer, the Democratic contest’s other billionaire candidate who has put over $72 million into TV ads this year but garnered just 2% support in the latest Reuters/Ipsos poll.
In a race where no Democratic candidate has become a clear frontrunner, Bloomberg’s position in polls shows he is a serious candidate who faces an uphill battle.
“He’s now got a foot in the game,” said Larry Sabato, director of the Center for Politics at the University of Virginia. “This shows you the advantage you can have with enormous wealth, but also that you really can’t buy a nomination like this.”
Democrats had their last debate before the Iowa primary on Thursday night.
Bloomberg is undoubtedly hoping the hefty spending will allow him to close the gap on the other frontrunner during the first four Democratic primary contests—including Iowa caucus On February 3. Fourteen more states hold primaries on or by March 3.
Note: The author of this article has included commentary that expresses an opinion and analysis of the facts.
Billionaire @MikeBloomberg may have entered the Democratic presidential race late and missed the first six debates but, at $76 million, his spending on television ads is almost six times that of his top four party rivals combined https://t.co/dxJGvMkyQD pic.twitter.com/Ma4Rb7Mone
— Reuters (@Reuters) December 21, 2019