Former New York City Mayor Michael BloombergMichael BloombergJovanni Ortiz in talks for potential Harris job The economic challenges facing Jerome Powell and Joe Biden Poll: Harris, Michelle Obama lead for 2024 if Biden doesn't run MORE and businessman Tom SteyerTom SteyerYouth voting organization launches M registration effort in key battlegrounds Overnight Energy: 'Eye of fire,' Exxon lobbyist's comments fuel renewed attacks on oil industry | Celebrities push Biden to oppose controversial Minnesota pipeline | More than 75 companies ask Congress to pass clean electricity standard Celebrities push Biden to oppose controversial Minnesota pipeline MORE spent a combined $340 million in the last quarter of 2019, far outpacing the amount spent by their rivals in the Democratic presidential race.
The two billionaire candidates competing in the crowded Democratic primary also gave their campaigns a combined $355 million in the same period, according to Federal Election Commission data released on Friday.
Bloomberg, who is entirely self-funding his campaign, spent more than $188 million in the fourth quarter and ended the period with $12 million in cash on hand. Steyer spent around $153 million in the last quarter of the year and ended it with $5.4 million in cash on hand.
The figures show that Bloomberg and Steyer each spent more in the final three months of 2019 than four of the top Democratic contenders combined.
Sen. Bernie SandersBernie SandersOvernight Health Care — Presented by March of Dimes — Abortion access for 65M women at stake Hospitals in underserved communities face huge cuts in reckless 'Build Back Better' plan Sanders urges Biden to delay Medicare premium hike linked to Alzheimer's drug MORE (I-Vt.) spent a little more than $50 million in the fourth quarter, while former South Bend, Ind. Mayor Pete ButtigiegPete ButtigiegThe Hill's Morning Report - Presented by Facebook - Congress avoids shutdown Harris's office undergoes difficult reset The Hill's 12:30 Report: Biden to announce increased measures for omicron MORE spent $34 million and Sen. Elizabeth WarrenElizabeth WarrenWarren calls on big banks to follow Capital One in ditching overdraft fees Crypto firm top executives to testify before Congress Massachusetts Gov. Charlie Baker won't seek reelection MORE (D-Mass.) spent $33.7 million. Former Vice President Joe BidenJoe BidenMarcus Garvey's descendants call for Biden to pardon civil rights leader posthumously GOP grapples with chaotic Senate primary in Pennsylvania Trump social media startup receives commitment of billion from unidentified 'diverse group' of investors MORE spent more than $23.3 million during that period.
The spending totals appear to have benefited Bloomberg and Steyer in recent polls, with Bloomberg especially seeing a bounce in national surveys.
A Morning Consult survey released on Tuesday showed Bloomberg, who entered the race in November, hitting 12 percent support, putting him ahead of Buttigieg and Sen. Amy KlobucharAmy KlobucharSunday shows preview: Multiple states detect cases of the omicron variant Biden should seek some ideological diversity House passes bipartisan bills to strengthen network security, cyber literacy MORE (D-Minn.).
Bloomberg is not competing in the early primary and caucus states and has instead focused his resources on massive ad buys in the Super Tuesday states.
He spent roughly $132 million on TV advertisements in addition to $8.19 million on digital ads.
Steyer has also worked to inundate the airwaves with advertisements in addition to making the Democratic debate stage.
A Morning Consult poll of the four early primary and caucus states showed Steyer at 15 percent earlier this month.