Former mayor Mike Bloomberg suspended his presidential campaign Wednesday, and is endorsing former Vice President Joe Biden.
Bloomberg released a statement saying “Three months ago I entered the race for president to defeat Donald Trump. Today, I am leaving the race for the same reason: to defeat Donald Trump - because it is clear to me that staying in would make achieving that goal more difficult.”
The statement also focuses on Bloomberg’s long friendship with Biden, saying “I know his decency, his honesty, his commitment to the issues that are so important to out country.”
The billionaire former New York mayor entered the Democratic primary race late but quickly spent hundreds of millions of dollars on television and social media advertising.
Three months ago, I entered the race to defeat Donald Trump. Today, I'm leaving for the same reason. Defeating Trump starts with uniting behind the candidate with the best shot to do it. It's clear that is my friend and a great American, @JoeBiden. pic.twitter.com/cNJDIQHS75
— Mike Bloomberg (@MikeBloomberg) March 4, 2020
Bloomberg will reportedly keep spending money on the presidential race and use his campaign infrastructure to assist Joe Biden’s candidacy.