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Mike Bloomberg Drops Out After Wasting $500 Million, Endorses Joe Biden

Mike Bloomberg Drops Out After Wasting $500 Million, Endorses Joe Biden

Former New York City Mayor Mike Bloomberg announced that he would end his campaign after he failed to factor into most Super Tuesday races despite spending big.

"Three months ago, I entered the race for President to defeat Donald Trump. Today, I am leaving the race for the same reason," Bloomberg said in a statement on Wednesday, "because it is clear to me that staying in would make achieving that goal more difficult."

"After yesterday's results, the delegate math has become virtually impossible — and a viable path to the nomination no longer exists," he added. "I've always believed that defeating Donald Trump starts with uniting behind the candidate with the best shot to do it. After yesterday's vote, it is clear that candidate is my friend and a great American, Joe Biden.”

Bloomberg wins American Samoa -- and nothing else:

Bloomberg claimed that he was the candidate best suited to defeat Trump but he failed to defeat anybody on Tuesday.

Bloomberg won five delegates in American Samoa, where Hawaii Rep. Tulsi Gabbard finished second, but failed to finish in the top two in any state.

Despite spending more than $500 million of his own money, including $224 million just on Super Tuesday states, Bloomberg walked away from Super Tuesday with just 44 delegates (more than $5 million per delegate).

Bloomberg vows to take on Trump:

Bloomberg previously said he would keep his campaign offices open and continue to buy up ads in an effort to defeat Trump.

Vermont Sen. Bernie Sanders said he would not accept financial support from Bloomberg but former Vice President Joe Biden, who appeared to be the new frontrunner after Super Tuesday, praised Bloomberg for his support.

“I can’t thank you enough for your support—and for your tireless work on everything from gun safety reform to climate change,” he said. “This race is bigger than candidates and bigger than politics. It’s about defeating Donald Trump, and with your help, we’re gonna do it.”