Mike Bloomberg, seen here speaking to supporters and staff in March in New York City, spent $1 billion of his own fortune to run for president but exited the race early on.

Former democratic presidential candidate and former New York City mayor Mike Bloomberg speaks to supporters and staff on March 4, 2020 in New York City. – US media tycoon Michael Bloomberg quit the Democratic presidential race and endorsed frontrunner Joe Biden Wednesday after being snubbed by voters on Super Tuesday despite blowing more than half a billion dollars on his campaign. (Photo by Johannes EISELE / AFP) (Photo by JOHANNES EISELE/AFP via Getty Images)