Michael Bloomberg suspended his presidential campaign March 4 after failing to persuade Democratic voters he was the best choice to defeat President Donald Trump despite record spending that topped $500 million, according to Bloomberg. ( Bloomberg is the founder and majority owner of Bloomberg LP, the parent company of Bloomberg News. )
Bloomberg had staked his candidacy on gaining a critical mass of delegates on Super Tuesday ( March 3 ) and subsequent races. However, the only race he won was the caucus in American Samoa.
Bloomberg released a statement saying he would be leaving the race and endorsing Joe Biden, according to CBS News.