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 BidenJoseph (Joe) Robinette BidenBrown launches tour in four early nominating states amid 2020 consideration 5 takeaways from Barr’s testimony Gillibrand announces exploratory committee to run for president on Colbert MORE or Sen. Bernie SandersBernard (Bernie) SandersBrown launches tour in four early nominating states amid 2020 consideration Gillibrand announces exploratory committee to run for president on Colbert Dem chairman Cummings meets with Trump health chief to discuss drug prices 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'RourkeRobert (Beto) Francis O'RourkeNew Hampshire is ‘must-win’ state for Warren, says veteran political reporter Democratic dark horses could ride high in 2020 Julián Castro announces 2020 White House bid, swipes at Trump MORE (D-Texas), whose unsuccessful Senate bid against Sen. Ted CruzRafael (Ted) Edward Cruz5 takeaways from Barr’s testimony Republicans seek to temper fallout from latest Russia bombshells Cruz says Americans outside Beltway unconcerned with Mueller investigation 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 WarrenBrown launches tour in four early nominating states amid 2020 consideration Gillibrand announces exploratory committee to run for president on Colbert Native American group denounces Trump for using Wounded Knee in attack against Warren MORE (D-Mass.) and Amy KlobucharAmy Jean Klobuchar5 takeaways from Barr’s testimony Klobuchar dismisses mock campaign logo as something from 'very enthusiastic supporter' Grandson's note to Barr during confirmation hearing goes viral MORE (D-Minn.).