FILE PHOTO: U.S. Democratic presidential candidate Michael Bloomberg speaks at a campaign event in Memphis, Tennessee, U.S. February 28, 2020. REUTERS/Karen Pulfer Focht/File Photo
NEW YORK (Reuters) – Billionaire and former presidential candidate Mike Bloomberg is considering a major spending blitz to back Joe Biden’s White House bid, CNBC reported on Friday.
The former New York mayor plans on spending more than $250 million to help Biden, but it is not clear whether the money will go to pro-Biden Super PACS, Biden’s joint fundraising effort with the Democratic National Committee (DNC) or another independent group, the network reported, citing people familiar with the conversations.
Former Vice President Biden is the presumptive Democratic nominee to take on U.S. President Donald Trump in November. Biden and Trump each raised roughly $60 million in April, but Trump and the Republicans hold a sizable money advantage.
The Biden campaign declined to comment when asked by Reuters about the spending.
Bloomberg did not immediately respond to Reuters questions on the potential spending.
Any major financial support from Bloomberg for Biden does not include what he could also put toward assisting congressional Democrats and the DNC, CNBC reported.
Bloomberg dropped out of the Democratic nominating contests for president in March and quickly endorsed Biden.
Reporting By Jarrett Renshaw and Trevor Hunnicutt; Editing by Bill Berkrot