Michael Bloomberg drops out of presidential race

Throws his support behind Joe Biden
Posted at 8:19 AM, Mar 04, 2020
and last updated 2020-03-04 10:19:54-05

LOS ANGELES — Billionaire Mike Bloomberg has ended his bid for the Democratic presidential nomination and has endorsed Joe Biden.

It was a stunning collapse for the former New York City mayor, who had pinned his 2020 hopes on the Super Tuesday states and drained more than $500 million from his own fortune into his ultimately unsuccessful campaign.

Bloomberg announced his departure Wednesday after a disappointing finish on Super Tuesday in the slate of states that account for almost one-third of the total delegates available in the Democratic nominating contest.

Some of his former Democratic rivals had coalesced around Biden as the moderate alternative to Vermont Sen. Bernie Sanders.