“As Mike has said, he supports Vice President Biden in defeating Donald Trump. We’re currently looking at how to best support Vice President Biden as well as Democratic victories up and down the ballot in November, just as Mike Bloomberg has done in previous cycles,” a Bloomberg spokesperson told CNBC.
Though it’s unclear how much Bloomberg will eventually spend, some of the people familiar with the matter noted that they anticipate Bloomberg to end up spending in excess of $250 million to support Biden, the apparent Democratic nominee. Any major financial support from Bloomberg backing Biden does not include what he could put toward assisting congressional Democrats. After dropping out of the Democratic primary for president in March, Bloomberg endorsed Biden and later announced his campaign would transfer
$18 million to the DNC.