Mike Bloomberg Says Goodbye to the White House

The business tycoon injected a lot of cash into his election campaign and clearly that was not enough as his political acumen was shown lacking when it mattered the most.

As it stands, Bloomberg is now going to back Joseph Biden Jr. in the future which means that the former Vice President will be the biggest benefactor. Bloomberg is eager to financially help out Biden while on the other side of the spectrum, Vermont Senator, Bernie Sanders is going to continue fight for nomination like he did the last time around.

This sudden shift in the campaign is now going to make the Democratic presidential bid even more interesting than it already is.

While Biden won South Carolina with sheer dominance, the whole Democratic establishment has started throwing its support to him. After Amy Klobuchar and Pete Buttigieg dropped out of the race and threw their support to Biden, it was Mr. Bloomberg whose backing is going to make a significant impact as Biden looks to bring the Democratic party back in the thick of things at the White House.

However, it remains to be seen if Elizabeth Warren is going to follow suit since she hasn’t made a decision so far. And while there is pressure on her to leave her spot and throw her support to Mr. Biden, it is clear that the Senator will take her time to come to a decision.

As for Bloomberg, the preliminaries have been nothing but a big financial loss that could have been avoided had the planning been done in a more frugal manner.