(Image source from: nationalreview.com)

The billionaire Michael Bloomberg has ended his bid for the nomination of the Democratic president on Wednesday and has also endorsed Joe Biden who is the former Vice President.

Michael Bloomberg has announced his departure from the race for the Democratic presidential nominations, after he has experienced a disappointing finish on the Super Tuesday in the slate of states which is said to account for almost one-third of the total delegates who are available in the contest of the Democratic nominations.

It has been said that, Bloomberg has won only the territory of American Samoa and that he has picked up several dozen delegates elsewhere. Meanwhile, Joe Biden has won big in the Southern states where Bloomberg had poured tens of millions of dollars and has also hoped for a victory cautiously.

It has been said that Bloomberg has already ran an unprecedented campaign fro the beginning and his entry in the month of November into the race has prompted him for skipping the campaign in the first four voting states of lowa, New Hampshire, Nevada and South Carolina.

Michael Bloomberg has hung his success on Super Tuesday where in he has spent at least $180m on advertising in those particular states but he had planned to continue deep into the primary calendar and has already spent millions on advertising in the states like Florida, Michigan and Pennsylvania.

It has been said that Michael Bloomberg of 78 years of age is one of the world’s richest men with a worth estimated to be around $61bn and that the fortune of Mike Bloomberg flows from the financial data and the media company which is said to have started in the 1980s bearing his name. He has also endeared himself to the progressive groups, in addition to serving as a New York mayor for twelve years. He has done so by pouring in hundreds of millions of dollars into fighting the climate change and also curbing the gun violence.

Michael Bloomberg has been dodged by accusations he has been trying to buy the Democratic presidential nomination and the vast fortune of Bloomberg has proven a perfect foil for Sanders who has once said that there should be no existence of billionaires.

Bloomberg had a vast circle of influence from his spending on the key causes such as control of the gun and also his philanthropic efforts for boosting the cities of America and to provide the leadership training for the mayors which in turn led to dozens of prominent mayors rallied behind his candidacy.

The decision that has been taken by Bloomberg to get out of the Democratic presidential nominations now is said to be a boon for the Joe Biden who is the former Vice President who has been appealing to a similar range of moderate voters.

Michael Bloomberg who is an entrepreneur and philanthropist has made his fortune by creating the technology that is used by the bankers and the traders in order to access the market data and he has turned into politics after he had built a successful financial information business.

By Shrithika Kushangi