Bloomberg gives about $80 million to help Democrats in final stretch of midterms
In short
Michael Bloomberg, the former New York City mayor, sent about $80 million in September and October to help Democrats in the midterms, his team told The New York Times. The giving makes him one of the largest known left-leaning donors in the midterms, and he is focused on a sizable Democratic House majority.
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Michael Bloomberg, the former New York City mayor and Democratic megadonor, sent about $80 million in September and October to help Democrats in the midterms, his team told The New York Times. The Boston Globe reported that some of the giving is still underway and that it will make him one of the largest known left-leaning donors in the midterms. [ 1 , 2 ]
His team provided details before most of the donations show up in new campaign finance filings on Tuesday and Thursday, the Globe reported. Bloomberg is particularly focused on ensuring a sizable Democratic majority in the House of Representatives, the chamber Democrats are most hopeful of flipping. His autumn budget is similar to what he spent in the fall 2018 campaign, which his team sees as the gold standard for when he was able to make an impact politically. [ 2 ]
Rep. Hakeem Jeffries of New York, the minority leader, said in a statement that Bloomberg played an instrumental role in the 2018 midterm election and that his support will once again help Democrats flip the House. Howard Wolfson, Bloomberg's political adviser, said Bloomberg believes in participation in democracy and is of the view that resources matter in campaigns. Wolfson said that Bloomberg, 84, expects a result. The Globe noted that Bloomberg spent more than $1 billion on his own failed 2020 presidential campaign. [ 2 , 3 ]
The Times said the money will help cut into Republicans' financial advantage. CNBC reported that, shortly after the Times published its article, Trump reiterated in a social media post his vow to spend $400 million to boost Republican candidates. CNBC said Republicans are increasingly worried about retaining their majorities in both chambers of Congress, that many political analysts expect Democrats to win the House, and that multiple polls show Democrats within reach of a Senate majority. [ 1 , 3 ]
According to a CNBC analysis of FEC filings for the 2025-2026 cycle, the $80 million puts Bloomberg among the top five largest individual Democratic donors. Before the announcement he was known to have donated $23 million to Democrats and affiliated causes this cycle. As of the beginning of October, he had put $11 million behind a super PAC supporting Micah Lasher in New York's 12th Congressional District and $2.5 million toward Pennsylvania Gov. Josh Shapiro's reelection, according to campaign-finance records. Wolfson did not immediately respond to a request for comment from CNBC. [ 3 ]
Why it matters
The New York Times said the money will help cut into Republicans' financial advantage. CNBC reported that, shortly after the Times article, President Donald Trump reiterated in a social media post his vow to spend $400 million to boost Republican candidates.
Key facts
- Bloomberg sent about $80 million in September and October to help Democrats in the midterms, according to his team. [ 1 , 2 , 3 ]
- Some of the giving is still underway, and most of the donations were due to appear in campaign finance filings on Tuesday and Thursday. [ 2 ]
- Bloomberg is focused on ensuring a sizable Democratic majority in the House of Representatives. [ 1 , 2 ]
- The spending makes him one of the largest known left-leaning donors in the midterms. [ 1 , 2 ]
- CNBC's analysis of FEC filings for the 2025-2026 cycle puts Bloomberg among the top five largest individual Democratic donors. [ 3 ]
- Before the announcement, Bloomberg was known to have donated $23 million to Democrats and affiliated causes this cycle, according to FEC records cited by CNBC. [ 3 ]
Confirmed by several sources
- Bloomberg's team said he sent about $80 million in September and October to help Democrats in the midterms. [ 1 , 2 , 3 ]
- The donations make Bloomberg one of the largest known left-leaning donors in the midterms. [ 1 , 2 ]
- Bloomberg is focused on the House of Representatives, where Democrats want a majority. [ 1 , 2 , 3 ]
- Howard Wolfson, Bloomberg's political adviser, said Bloomberg is of the view that resources matter in campaigns and that he expects a result. [ 2 , 3 ]
Still unclear
- Whether the money will change the outcome of the midterms. The Boston Globe raised the question and noted Bloomberg's failed 2020 presidential campaign, on which he spent more than $1 billion; the documents give no answer.
- How the full $80 million is divided between recipients. The Boston Globe text says at least $50 million of the latest spending is headed somewhere, but the text is cut off; CNBC lists only earlier donations of $11 million and $2.5 million.
- Trump's $400 million pledge for Republican candidates. Only CNBC reports it, describing a social media post by Trump.