NEW YORK — Mike Bloomberg is transferring $18 million from his presidential campaign to the Democratic National Committee in what is the largest such transfer ever.
Bloomberg’s move will help the DNC make up for some of its steep fundraising disadvantage to its Republican counterpart.
Bloomberg is one of the world’s wealthiest men with a net worth estimated to exceed $60 billion.
He promised throughout his campaign that he’d help Democrats try to defeat President Donald Trump regardless of how his own White House bid fared.
The Bloomberg campaign will also transfer its offices in six pivotal states to the Democratic parties in those states, to help accelerate their hiring and organizing.