Bloomberg drops out, backs Biden in race

WASHINGTON: Billionaire former New York Mayor Michael Bloomberg ended his presidential campaign on Wednesday and said he was backing Joe Biden for the Democratic Party’s nomination to challenge President Donald Trump in the November election.

“A viable path to the nomination no longer exists,” Bloomberg said in a statement, having failed to deliver convincing wins in his electoral debut on Super Tuesday despite lavish spending on campaign ads across the United States.
Endorsing Biden, Bloomberg said: “I will work to make him the next president of the United States.”
His exit ended a novel electoral strategy, a vast experiment in political advertising, as Bloomberg, 78, skipped the four early-voting states and instead focused on the 14-state Super Tuesday contest.
His only victory on Tuesday came in the US territory of American Samoa.
Biden, 77, the former vice president, accomplished his Super Tuesday goal of muscling Bloomberg aside and consolidating support of moderates to turn the race into a one-on-one contest against the democratic socialist, US Senator Bernie Sanders.
Bloomberg was winning more than 15 per cent of the vote, enough to pick up some delegates, in Tennessee, Texas, Colorado, Utah, California and Arkansas.
Since entering the race on November 24, Bloomberg spent more than $500 million of the fortune he built on his eponymous media company on an ad campaign that vaulted him into the top tier of the Democratic field.
After blanketing the airwaves with promises that he could defeat the Republican Trump in the November 3 election, his support among Democrats and independents in public opinion polls rose to around 15 per cent from about 5 per cent when he entered.
He hired thousands of staff and mounted a vigorous national tour focused on the 14 states that voted on March 3.

His Democratic rivals attacked him in his first presidential debate on February 19 in Nevada. US Senator Elizabeth Warren lambasted him for making crude jokes about women and Sanders accused him of trying to buy the election. — Reuters