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 BidenSenate Republicans face tough decision on replacing Ginsburg What Senate Republicans have said about election-year Supreme Court vacancies Biden says Ginsburg successor should be picked by candidate who wins on Nov. 3 MORE or Sen. Bernie SandersBernie SandersKenosha will be a good bellwether in 2020 Biden's fiscal program: What is the likely market impact? McConnell accuses Democrats of sowing division by 'downplaying progress' on election security 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'RourkeJimmy Carter says his son smoked pot with Willie Nelson on White House roof O'Rourke endorses Kennedy for Senate: 'A champion for the values we're most proud of' 2020 Democrats do convention Zoom call MORE (D-Texas), whose unsuccessful Senate bid against Sen. Ted CruzRafael (Ted) Edward CruzSenate Republicans face tough decision on replacing Ginsburg Cruz: Trump should nominate a Supreme Court justice next week Renewed focus on Trump's Supreme Court list after Ginsburg's death 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 WarrenBiden's fiscal program: What is the likely market impact? Warren, Schumer introduce plan for next president to cancel ,000 in student debt The Hill's 12:30 Report - Presented by Facebook - Don't expect a government check anytime soon MORE (D-Mass.) and Amy KlobucharAmy KlobucharThe Hill's Morning Report - Sponsored by The Air Line Pilots Association - White House moves closer to Pelosi on virus relief bill EPA delivers win for ethanol industry angered by waivers to refiners It's time for newspapers to stop endorsing presidential candidates MORE (D-Minn.).