Bloomberg, Steyer spend combined $340 million in fourth quarter
Former New York City Mayor Michael BloombergMichael BloombergEngel scrambles to fend off primary challenge from left It’s as if a Trump operative infiltrated the Democratic primary process Liberals embrace super PACs they once shunned MORE and businessman Tom SteyerTom SteyerBloomberg wages war on COVID-19, but will he abandon his war on coal? Overnight Energy: 600K clean energy jobs lost during pandemic, report finds | Democrats target diseases spread by wildlife | Energy Dept. to buy 1M barrels of oil Ocasio-Cortez, Schiff team up to boost youth voter turnout 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.
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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.
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Sen. Bernie SandersBernie SandersThe Hill’s 12:30 Report: Milley apologizes for church photo-op Harris grapples with defund the police movement amid veep talk Biden courts younger voters — who have been a weakness MORE (I-Vt.) spent a little more than $50 million in the fourth quarter, while former South Bend, Ind. Mayor Pete ButtigiegPete ButtigiegScaled-back Pride Month poses challenges for fundraising, outreach Biden hopes to pick VP by Aug. 1 It’s as if a Trump operative infiltrated the Democratic primary process MORE spent $34 million and Sen. Elizabeth WarrenElizabeth WarrenWarren, Democrats urge Trump to back down from veto threat over changing Confederate-named bases OVERNIGHT DEFENSE: Joint Chiefs chairman says he regrets participating in Trump photo-op | GOP senators back Joint Chiefs chairman who voiced regret over Trump photo-op | Senate panel approves 0B defense policy bill Trump on collision course with Congress over bases with Confederate names MORE (D-Mass.) spent $33.7 million. Former Vice President Joe BidenJoe BidenHillicon Valley: Biden calls on Facebook to change political speech rules | Dems demand hearings after Georgia election chaos | Microsoft stops selling facial recognition tech to police Trump finalizing executive order calling on police to use ‘force with compassion’ The Hill’s Campaign Report: Biden campaign goes on offensive against Facebook 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 KlobucharHillicon Valley: Biden calls on Facebook to change political speech rules | Dems demand hearings after Georgia election chaos | Microsoft stops selling facial recognition tech to police Democrats demand Republican leaders examine election challenges after Georgia voting chaos Harris grapples with defund the police movement amid veep talk 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.
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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.