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 Robinette BidenButtigieg on Trump tweets: 'I don't care' Buttigieg: The future 'is personal' for me Donald Trump, president for life? We need term limits now MORE or Sen. Bernie SandersBernie SandersButtigieg defends appearing on Fox News: Many Americans don't hear Dems' message Buttigieg: The future 'is personal' for me Donald Trump, president for life? We need term limits now 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'RourkeTrump hits Fox News for 'wasting airtime' with coverage of Buttigieg Overnight Health Care — Presented by Campaign for Accountability — Momentum builds for federal laws enshrining abortion rights | Missouri lawmakers approve bill banning abortions at 8 weeks | Warren unveils plan to protect abortion rights Overnight Energy: Dems dismiss Interior chief's work calendars as 'fake' | Buttigieg climate plan includes carbon tax | Poll finds growing number say climate is crucial 2020 issue MORE (D-Texas), whose unsuccessful Senate bid against Sen. Ted CruzRafael (Ted) Edward Cruz Eye-popping number of Dems: I can beat Trump 'SleepyCreepy Joe' and 'Crazy Bernie': Trump seeks to define 2020 Dems with insults The Hill's Morning Report - Presented by Pass USMCA Coalition - Restrictive state abortion laws ignite fiery 2020 debate 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 WarrenButtigieg jokes about holding town hall same night as 'Game of Thrones' finale Buttigieg defends appearing on Fox News: Many Americans don't hear Dems' message Warren offers to help Twitter user with her love life MORE (D-Mass.) and Amy KlobucharAmy Jean KlobucharKlobuchar: 'Don't think' there are reasons to investigate Mueller probe's origins Klobuchar: Trump plan doesn't deal with 'comprehensive immigration issue' Buttigieg condemns 'voices on Fox' for spreading 'fear' and 'lies' ahead of town hall appearance MORE (D-Minn.).