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.


 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 BidenSondland notified Trump officials of investigation push ahead of Ukraine call: report Biden says he won't legalize marijuana because it may be a 'gateway drug' Impeachment hearings don't move needle with Senate GOP MORE or Sen. Bernie SandersBernie SandersBiden says he won't legalize marijuana because it may be a 'gateway drug' Democrats seize on report of FedEx's Bernie Sanders tax bill to slam Trump's tax plan If we want to save earth, we need to change how we eat 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'RourkeDeval Patrick enters 2020 race O'Rourke says he 'absolutely' plans to stay in politics Krystal Ball: Buttigieg is 'the boomer candidate' MORE (D-Texas), whose unsuccessful Senate bid against Sen. Ted CruzRafael (Ted) Edward CruzOvernight Defense: Erdoğan gets earful from GOP senators | Amazon to challenge Pentagon cloud contract decision in court | Lawmakers under pressure to pass benefits fix for military families Erdoğan gets earful from GOP senators at White House Senators confirm Erdoğan played 'propaganda' video in White House meeting 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 WarrenBiden says he won't legalize marijuana because it may be a 'gateway drug' Democrats seize on report of FedEx's Elizabeth Warren tax bill to slam Trump's tax plan Warren 'fully committed' to 'Medicare for All' MORE (D-Mass.) and Amy KlobucharAmy Jean Klobuchar New poll shows four top-tier 2020 candidates in Iowa New poll catapults Buttigieg to frontrunner position in Iowa Election 2020: Why I'm watching Amy and Andy MORE (D-Minn.).