Speed Reads

bloomberg's billions

Michael Bloomberg will reportedly fund his campaign through November — even if it's helping another nominee

Michael Bloomberg reportedly has a long-term plan for his well-funded campaign.

The billionaire former New York City mayor made a late entry to the 2020 race, but quickly jumped up in the polls thanks to the millions of dollars of self-funding he's been able to put into it. But if he doesn't end up topping the Democratic field, that campaign machine won't go to waste: Bloomberg will continue funding his staff to help whoever locks down the Democratic nomination, campaign officials tell NBC News.

Bloomberg already has one of the biggest paid campaign teams out there, with more than 500 workers scattered across the U.S. He's also dominating the TV ad market, all while paying his staffers nearly double what some other campaigns are. Yet all that spending couldn't get Bloomberg on January's Democratic debate stage, and he's still a long shot to win the nomination altogether.

But even if Bloomberg can't buy his way into this election, he'll still be paying for it through November, campaign officials said. All the staffers and digital assets Bloomberg pays for would be redirected to the nominee, building a "shadow field operation across the country," including in general election swing states such as Florida, Michigan, and Wisconsin, NBC News reports.

That doesn't mean Bloomberg is backing down in his fight for the nomination. "Mike Bloomberg is either going to be the nominee or the most important person supporting the Democratic nominee for president," Bloomberg's campaign manager Kevin Sheekey said. Read more at NBC News.