Former New York City Mayor Michael BloombergMichael BloombergDemocrats' combative approach to politics is doing more harm than good Battling over Biden's agenda: A tale of two Democratic parties Budget impasses mark a critical turning point in Biden's presidency MORE will transfer $18 million to the Democratic National Committee (DNC) and plans to consolidate his massive campaign organization behind the national party in an effort to defeat President TrumpDonald TrumpHillicon Valley — Presented by Xerox — Twitter's algorithm boosts right-leaning content, internal study finds Ohio Democrat calls Vance an 'ass----' over Baldwin tweet Matt Taibbi says Trump's rhetoric caused public perception of US intelligence services to shift MORE in November.
Bloomberg, who spent more than $500 million on his own doomed campaign for the Democratic nomination, has endorsed former Vice President Joe BidenJoe BidenHow 'Buy American', other pro-US policies can help advocates pass ambitious climate policies Overnight Defense & National Security — Presented by Raytheon Technologies — Biden backtracks on Taiwan Photos of the Week: Manchin protestor, Paris Hilton and a mirror room MORE for president. Biden has opened up a big lead in delegates over Sen. Bernie SandersBernie SandersOvernight Health Care — Presented by Carequest — Study finds Pfizer vaccine almost 91 percent effective for 5 to 11 year olds The Hill's Morning Report - Presented by Uber - Manchin, Sanders in budget feud; Biden still upbeat Democratic frustration with Sinema rises MORE (I-Vt.) and is widely viewed as the party’s likely nominee.
The $18 million donation from Bloomberg is $6 million more than the DNC raised in all of February and is nearly double the national party’s January haul.
The gift of money and organization marks a huge windfall for the DNC, which has not been remotely competitive with the Republican National Committee on either front in recent years.
Bloomberg had previously planned to launch his own independent entity to support the Democratic nominee against Trump.
Instead, Bloomberg has decided that his money and organization would be better utilized under one roof at the DNC.
“While we considered creating our own independent entity to support the nominee and hold the President accountable, this race is too important to have many competing groups with good intentions but that are not coordinated and united in strategy and execution,” Bloomberg said in a memo to DNC Chairman Tom PerezThomas PerezClinton’s top five vice presidential picks Government social programs: Triumph of hope over evidence Labor’s 'wasteful spending and mismanagement” at Workers’ Comp MORE.
“The dynamics of the race have also fundamentally changed, and it is critically important that we all do everything we can to support our eventual nominee and scale the Democratic Party’s general election efforts,” he added.
The former New York City mayor will also transfer his former field offices to local party affiliates in key battleground states, and his team will assist in getting state parties up to speed in hiring, data and operations, according to the memo.
“The campaign believes this investment will dramatically expand the DNC’s Battleground Build-Up 2020 efforts across battleground states, drawing in part from our own incredibly experienced and talented organizing staff,” Bloomberg said.
Bloomberg has not laid out a media strategy for the 2020 presidential campaign yet, but it’s possible he could still spend tens of millions on the airwaves in an effort to defeat Trump.
"We need to compete with the war chest that Donald Trump, the RNC, and their right-wing allies have amassed, and this will go a long way in ensuring that we can fund the grassroots efforts in key battleground states that will be necessary to win this November," said Biden deputy campaign manager Kate Bedingfield.
Updated at 11:50 a.m.