Former New York Mayor Bloomberg spent $80 million backing Democrats — CNBC

Former New York Mayor Michael Bloomberg spent $80 million in September and October backing U.S. Democratic Party candidates ahead of the November midterm elections. The money was directed toward Democrats’ efforts to regain control of the House of Representatives, CNBC reports, citing The New York Times and Bloomberg’s team.

Bloomberg’s contributions

According to CNBC’s estimate based on U.S. Federal Election Commission data, following these expenditures Bloomberg became one of the five largest individual donors to Democrats in the 2025–2026 election cycle. Before the report on the new spending, commission filings listed his contributions of $23 million to Democrats and affiliated entities.

As of early October, Bloomberg had allocated $11 million to a super PAC backing Micah Lasher in New York’s 12th congressional district. He directed another $2.5 million to the reelection campaign of Pennsylvania Governor Josh Shapiro. Bloomberg political adviser Howard Wolfson told The New York Times that Bloomberg considers financial resources important for campaigns and “expects results.”

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Trump’s statements on Republican spending

After The New York Times published its report, U.S. President Donald Trump reiterated on Truth Social his promise to spend $400 million backing Republican candidates. He said his political organization and its affiliated committee had already spent more than $300 million on advertising, voter outreach, rallies and supporter mobilization.

At the same time, Federal Election Commission filings at that point showed about $200 million in identified spending and reserved advertising funds linked to Trump’s political structure. The U.S. midterm elections are scheduled for November 3.