Bloomberg ready to spend at least $100M if he runs for White House in 2020

Former New York City Mayor Michael Bloomberg is prepared to spend upwards of $100 million should he mount a 2020 bid for the White House, according to CNBC

Howard Wolfson, the billionaire business magnate's top political advisor, told the news outlet that Bloomberg spent more than $100 million in his last campaign for New York City mayor in 2009. 

"Last time I looked, NYC is a fraction of the size of the country as a whole," Wolfson said in an email to the outlet.

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 Wolfson added that Bloomberg would spend "whatever is required" on his own campaign if he decides to make a run for the Democratic presidential nomination in 2020. 

A spokesperson for Bloomberg did not immediately respond to The Hill's request for comment.

If Bloomberg does throw his name into the running, he would begin his campaign with a significant cash advantage over other potential Democratic frontrunners, like former Vice President Joe BidenJoe BidenEight Democratic presidential hopefuls to appear in CNN climate town hall Hill Reporter Rafael Bernal: Biden tries to salvage Latino Support Biden, Buttigieg bypassing Democratic delegate meeting: report MORE or Sen. Bernie SandersBernie SandersTop Sanders adviser: Warren isn't competing for 'same pool of voters' Eight Democratic presidential hopefuls to appear in CNN climate town hall Top aide Jeff Weaver lays out Sanders's path to victory MORE (I-Vt.). 

The former New York City mayor has already developed a reputation as a major donor in Democratic circles. He spent more than $110 million to boost Democratic candidates in the 2018 midterm elections. 

Despite Bloomberg's vast financial resources, he's likely to have to overcome a crowded Democratic primary field that could include high-profile political figures, like Biden and Rep. Beto O'RourkeBeto O'RourkeO'Rourke: Trump driving global, U.S. economy into recession 2020 Democrats feel more emboldened to label Trump a racist Hillicon Valley: O'Rourke proposal targets tech's legal shield | Dem wants public review of FCC agreement with T-Mobile, Sprint | Voters zero in on cybersecurity | Instagram to let users flag misinformation MORE (D-Texas), whose unsuccessful Senate bid against Sen. Ted CruzRafael (Ted) Edward Cruz3 real problems Republicans need to address to win in 2020 The Hill's Morning Report - Trump on defense over economic jitters Democrats keen to take on Cornyn despite formidable challenges MORE (R-Texas) this year elevated him to rockstar status in the party.

At the same time, early polls show Biden, Sanders and O'Rourke among the frontrunners in the Democratic primary field. A CNN poll conducted earlier this month showed Bloomberg tied for seventh place alongside Sens. Elizabeth WarrenElizabeth Ann WarrenTop Sanders adviser: Warren isn't competing for 'same pool of voters' Eight Democratic presidential hopefuls to appear in CNN climate town hall In shift, top CEOs say shareholder value not top goal MORE (D-Mass.) and Amy KlobucharAmy Jean KlobucharEight Democratic presidential hopefuls to appear in CNN climate town hall Biden, Buttigieg bypassing Democratic delegate meeting: report Poll: Nearly 4 in 5 say they will consider candidates' stances on cybersecurity MORE (D-Minn.).