# Is Bloomberg still dumping a ton of money into the 2020 election

**URL:** <https://boards.straightdope.com/t/is-bloomberg-still-dumping-a-ton-of-money-into-the-2020-election/851997>\
**Category:** Politics & Elections\
**Created:** [April 17, 2020, 6:55pm UTC](https://boards.straightdope.com/t/is-bloomberg-still-dumping-a-ton-of-money-into-the-2020-election/851997 "2020-04-17T18:55:28Z")\
**Posts on this page:** 4\
**Page:** 1

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**Author:** ![Wesley\_Clark](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/wesley_clark/32/20581_2.png) [@Wesley\_Clark](https://boards.straightdope.com/u/Wesley_Clark)\
**Post date:** [April 17, 2020, 6:55pm UTC](https://boards.straightdope.com/t/is-bloomberg-still-dumping-a-ton-of-money-into-the-2020-election/851997/1 "2020-04-17T18:55:28Z")

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He said he would support Biden financially, but with the stock market collapse I think Bloomberg has lost 20 billion in net worth at his lowest after the stock collapse.

I think he has gained some back, and right now its showing him at 54 billion, but I think thats still about 10 billion less than his peak as I believe he was in the low 60s regarding net worth before the collapse.

Then again he is an old man who intends to give a lot of his money away. So I don’t know how much he cares, if he is the kind of person who says ‘I’m 78 and I’m only worth 54 billion dollars now, I better cut back’

Point being, has he mentioned if the economic collapse is going to cut back his investments in the 2020 election? And is he going to support democrats up and down the ticket, or mostly just Biden?

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**Author:** ![CarnalK](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/carnalk/32/486_2.png) [@CarnalK](https://boards.straightdope.com/u/CarnalK)\
**Post date:** [April 17, 2020, 8:28pm UTC](https://boards.straightdope.com/t/is-bloomberg-still-dumping-a-ton-of-money-into-the-2020-election/851997/2 "2020-04-17T20:28:18Z")

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He caught some grief because he cut loose his staff a while back when he’d promised both the Dems that he’d keep them in the field and them longer term jobs. I think at this point, it’s hard to blame him. Not a lot of rallies, handshaking and organizing going on for a bit.

I haven’t heard him say one way or the other but I would be mightily shocked if the stockmarket is dictating his plans overmuch.

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**Author:** ![Bijou\_Drains](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/bijou_drains/32/2814_2.png) [@Bijou\_Drains](https://boards.straightdope.com/u/Bijou_Drains)\
**Post date:** [April 17, 2020, 9:17pm UTC](https://boards.straightdope.com/t/is-bloomberg-still-dumping-a-ton-of-money-into-the-2020-election/851997/3 "2020-04-17T21:17:43Z")

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as of now the market is down around 15% since the slide started in March.

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**Author:** ![Jas09](https://avatars.discourse-cdn.com/v4/letter/j/d07c76/32.png) [@Jas09](https://boards.straightdope.com/u/Jas09)\
**Post date:** [April 22, 2020, 1:24am UTC](https://boards.straightdope.com/t/is-bloomberg-still-dumping-a-ton-of-money-into-the-2020-election/851997/4 "2020-04-22T01:24:38Z")

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He is planning to transfer $18M to the DNC. And that is from March 20, so after most of the market collapse.

That’s not a TON of money compared to his net worth, but not chump change either.

> **[Mike Bloomberg will transfer $18 million to the Democratic Party as it gears...](https://www.cnbc.com/2020/03/20/mike-bloomberg-to-donate-18-million-to-dnc-in-2020-election.html)**
>
> Bloomberg scrapped plans to form an independent expenditure group to support the Democrat in the 2020 presidential election against Trump.