After disappointing Super Tuesday results, Bloomberg exits race, endorses Biden

Rebecca Omastiak
Democratic presidential candidate former New York City Mayor Mike Bloomberg speaks during a rally, Tuesday, March 3, 2020, in West Palm Beach, Fla.[AP/ Lynne Sladky]

Democratic presidential candidate Mike Bloomberg is dropping out of the presidential race after getting disappointing results in Super Tuesday primaries and endorsing former Vice President Joe Biden.

Bloomberg, a billionaire businessman and former New York mayor, spent sums never before seen in political campaign history since entering the race in November, pumping more than $500 million of his own fortune into the campaign. Millions of dollars went toward states like Virginia, North Carolina and Tennessee — all three of which Biden won on Tuesday, riding a wave after his decisive victory in South Carolina. Sen. Bernie Sanders, meanwhile, racked up victories in California, Colorado and other states.

“Three months ago, I entered the race for President to defeat Donald Trump. Today, I am leaving the race for the same reason: to defeat Donald Trump – because it is clear to me that staying in would make achieving that goal more difficult," Bloomberg said in a statement.

"I am immensely proud of the campaign we ran, the issues we raised, and the sweeping and achievable plans we proposed," Bloomberg’s statement went on to say. "I am deeply grateful to all the Americans who voted for me – and to our incredibly dedicated staff and volunteers all around the country, who knocked on more than two million doors and held 12 million voter conversations in an incredibly short amount of time. No one outworked our team, and I couldn’t be prouder of everyone who was part of it. And I will be forever grateful to all the mayors, local and state legislators, Members of Congress, and many others who believed in me, endorsed my candidacy, and worked hard to unite voters around our vision. Your support and trust sustained me, and I look forward to working with you in the months and years ahead."

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The Associated Press contributed to this report.