Former New York Mayor Mike Bloomberg speaks at the opening session of Qatar Economic Forum 2025 in Doha, Qatar, May 20, 2025.
Nushad Thekkair | Nur Photo | Getty Images
Mike Bloomberg spent $80 million in September and October to help Democrats regain control of the House majority in the upcoming midterm elections, the New York Times reported Tuesday, citing his team.
Shortly after the Times published an article about Bloomberg’s campaign finances, fellow billionaire President Donald Trump reiterated his pledge to spend $400 million to support Republican candidates in a social media post.
The duel announcement comes as Republicans grow increasingly concerned about maintaining their majorities in both chambers of Congress.
Many political analysts expect Democrats to win a majority in the House of Representatives, and polls show they are within reach of winning a majority of seats in the Senate.
Howard Wolfson, Mr. Bloomberg’s political adviser, told the Times that Mr. Bloomberg “takes the view that resources are important in campaigning.”
Mr. Bloomberg, a former New York City mayor, is “expecting results,” Mr. Wolfson said.
Bloomberg is among the top five individual donors to the Democratic Party with $80 million in spending, according to a CNBC analysis of FEC filings for the 2025-2026 election cycle.
Wolfson did not immediately respond to a request for comment from CNBC.
Before Tuesday’s announcement, Bloomberg was known to have donated $23 million to Democrats and their affiliates this election cycle, according to Federal Election Commission records through Tuesday.
As of early October, Bloomberg had contributed $11 million to a super PAC supporting Micah Lasher in New York’s 12th Congressional District and $2.5 million to the re-election of Pennsylvania Gov. Josh Shapiro, according to campaign finance records.
Trump said in a post on Truth Social that he and his affiliated political action committee have spent more than $300 million supporting Republican candidates with advertising, voter contact, rallies and turnout efforts. President Trump has promised that spending will exceed $400 million by Election Day, Nov. 3.
FEC filings as of Tuesday afternoon so far show approximately $200 million in identifiable spending and advertising reservations related to Trump’s political operations, leaving a gap between what is publicly visible and Trump’s broader claims.
In September, President Trump said his super PAC, MAGA Inc., had “nearly $1 billion” and planned to spend $400 million to $500 million in the midterm elections. At the time, MAGA reported about $403 million in cash on hand, less than half the amount listed by Trump.
