Mike Bloomberg drops out of presidential race after $500m campaign spend
4 March 2020, 23:55 | Updated: 4 March 2020, 23:56
US billionaire Mike Bloomberg has ended his presidential campaign following a disastrous Super Tuesday result.
The businessman, who is one of America's richest men, fell well short of his rivals Bernie Sanders and Joe Biden, the two Democratic front runners.
Mr Bloomberg was a late addition to the competition, and spent almost $500 million dollars on his campaign.
Despite this, he secured just one of the 15 endorsements up for grabs on Super Tuesday.
It was the first time he was on the ballot.
Fourteen states and the US territory of American Samoa voted, and Bloomberg only won American Samoa.
his disappointing result was later mocked by President Trump.
Calling him "Mini Mike Bloomberg", President Trump tweeted: "The biggest loser tonight, by far, is Mini Mike Bloomberg. His “political” consultants took him for a ride.
"$700 million washed down the drain, and he got nothing for it but the nickname Mini Mike, and the complete destruction of his reputation. Way to go Mike!"
In a follow up tweet, he said: "Mini Mike Bloomberg just “quit” the race for President. I could have told him long ago that he didn’t have what it takes, and he would have saved himself a billion dollars, the real cost.
"Now he will pour money into Sleepy Joe’s campaign, hoping to save face. It won’t work!"
Mr Bloomberg replied: "See you soon, Donald" with a star wars fight scene attached.
The biggest loser tonight, by far, is Mini Mike Bloomberg. His “political” consultants took him for a ride. $700 million washed down the drain, and he got nothing for it but the nickname Mini Mike, and the complete destruction of his reputation. Way to go Mike!— Donald J. Trump (@realDonaldTrump) March 4, 2020
"Three months ago, I entered the race for president to defeat Donald Trump," Mr Bloomberg announced.
"Today, I am leaving the race for the same reason: to defeat Donald Trump - because it is clear to me that staying in would make achieving that goal more difficult."
He said he will now support Joe Biden.
"I've always believed that defeating Donald Trump starts with uniting behind the candidate with the best shot to do it."
After yesterday's vote, it is clear that candidate is my friend and a great American, Joe Biden."
It comes after Joe Biden won big in Southern states where Mr Bloomberg had poured tens of millions of dollars and even cautiously hoped for a victory.
Two of his former Democratic rivals, Amy Klobuchar and Pete Buttigieg, dropped out of the race and endorsed Mr Biden as the moderate alternative to Vermont Senator Bernie Sanders just the day before Super Tuesday.