Overview: From mayor to presidential candidate, from Republican to Democrat, from politician to donor, Michael Bloomberg’s career has run the gamut of American politics. Bloomberg is one of the world’s richest people, and he used his wealth to fund a presidential run with more than $1 billion of his own money. In 2020, Bloomberg gave predominantly to liberal causes and Democratic candidates as he shifted his political focus to ousting President Donald Trump from the White House.
Location: New York, NY
Total Donated (2016-2020): $132,715,797
Top Recipients: Independence USA PAC, Michael Bloomberg
Key Issues: Gun Control, Public Health
Largest Donation to Date: $20 million to the Senate Majority PAC
Profile: Bloomberg made his money on Wall Street, first as an investor, then as an executive when he launched Bloomberg LP in 1981. His current net worth of roughly $55 billion puts him among the top 15 richest people in the world. Bloomberg gives frequently to ballot initiative fights around gun control and public health. Gun safety has long been among Bloomberg’s top priorities, and the group he co-founded, Everytown for Gun Safety, pledged $60 million to prevent Trump’s re-election. He’s also given significantly to combating climate change and toward groups backing women for public office.
Bloomberg’s 12 years as a stop-and-frisk, pro-privatization and paternalism-oriented mayor of New York City embodied exactly the kind of governance today’s progressive wing of the Democratic Party admonishes—perhaps most notably by the fact that he was a Republican for his first two terms. He has a history of funding a variety of candidates and state campaign funds for both parties. Still, Bloomberg has given more than $1 billion to Democrats and liberal causes over the last few election cycles. He cuts large checks to liberal PACs like LCV Victory Fund, Planned Parenthood Votes and the Democrats’ House Majority PAC and the DNC. But by far, his largest project was his own campaign for president, on which he spent more than $1 billion of his own money, only to drop out of the race. Bloomberg subsequently made donations through his Independence USA PAC, which funded anti-Trump and pro-liberal-candidate ads around the country. Upon dropping out, Bloomberg endorsed Biden for president and recently committed $100 million to help Biden win in Florida.
Ideological Vibe: Moderate. Bloomberg’s hefty donations to Democrats in recent years don’t wash away his conservative past, his affinity for centrist positions, and his general opposition to the party’s emerging progressive wing. A former Republican, Bloomberg’s political goals are most aligned with the centrist Democrats.
Hits and Misses: Bloomberg has been more successful winning office as a Republican than a Democrat, and his billion-dollar presidential run was certainly a miss. He helped the Democrats retake the House in 2018 with comparatively modest gifts to liberal campaign PACs and funded millions of dollars’ worth of ads through his own PAC. His significant investment in Florida this year underwhelmed.
Looking Forward: While Bloomberg has of late centered his energy on ousting Donald Trump from the White House, it’s unclear if he sees his political future in the Democratic Party or if he’s liable to switch affiliations once again. Considering most of his donations go through his own PACs, we should expect to see Bloomberg continue to cut large checks to support personal goals like gun control, but perhaps fewer of them will go directly to the party.
Relationships: Bloomberg LP—Founder
Contact Information: N/A