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 BidenJam-packed primary poses a serious threat to Democrats in 2020 Stacey Abrams: Barr's Mueller letter 'like having your brother summarize your report card' Abrams launches 'Fair Vote' nonprofit ahead of 2020 census MORE or Sen. Bernie SandersBernard (Bernie) SandersJam-packed primary poses a serious threat to Democrats in 2020 Treason narrative collapses; who bears responsibility? Pence hits 2020 Dems for skipping AIPAC 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'RourkeThe Hill's Morning Report - Presented by Pass USMCA Coalition - Mueller report is huge win for President Trump Biden, Sanders edge Trump in hypothetical 2020 matchups in Fox News poll Here's what the Dem candidates for president said about the Mueller report MORE (D-Texas), whose unsuccessful Senate bid against Sen. Ted CruzRafael (Ted) Edward CruzNunes on Mueller report: 'We can just burn it up' 18 state attorneys general call on Justice Dept to release Mueller report Lawmakers clash over whether conclusion of Mueller investigation signals no collusion 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 WarrenJam-packed primary poses a serious threat to Democrats in 2020 Pence hits 2020 Dems for skipping AIPAC Poll: Biden, Sanders lead Trump in Iowa MORE (D-Mass.) and Amy KlobucharAmy Jean KlobucharKlobuchar pressing Barr on release of Mueller report Green New Deal vote tests Dem unity in Senate Why do so many Democrats embrace hate speech? MORE (D-Minn.).