US presidential election 2020: Mike Bloomberg quits presidential race

The billionaire businessman and former New York City mayor Mike Bloomberg has ended his 2020 presidential bid. On Wednesday, he announced his withdrawal while stating that he is suspending his White House run. Bloomberg is now endorsing Democratic candidate Joe Biden, the former Vice President of US.

While announcing his withdrawal from 2020 US presidential election, Bloomberg said that he will keep the infrastructure he put in place for his campaign up and running until the election in November, which could benefit the Democratic Party, especially Biden.

Bloomberg quits

Bloomberg announced that he was running in November 2019. He skipped campaigning in the four early primary states, which are Iowa, New Hampshire, Nevada, and South Carolina.

But on Wednesday, in a statement, Bloomberg said, "I'm a believer in using data to inform decisions. After yesterday's results, the delegate math has become virtually impossible — and a viable path to the nomination no longer exists. But I remain clear-eyed about my overriding objective: victory in November. Not for me, but for our country," adding that "While I will not be the nominee, I will not walk away from the most important political fight of my life."

The billionaire Bloomberg, who is endorsing 77-year-old former US Vice President, mentioned that Biden has the best shot of winning the November US Presidential election. He commended Biden and said "his decency, his honesty and his commitment to the issues that are so important to our country."

Bloomberg, one of the richest people in the world, has struggled with controversy since entering the race in November last year. Reports revealed that he spent more than $500 million on his 2020 presidential bid. He also faced criticism from fellow candidates for his wealth and the self-funded campaign.

After Bloomberg withdrew from the presidential race, netizens started talking about endorsing Biden, while Donald Trump Jr tweeted, "Congrats Mike Bloomberg on your 12 delegates. Incredible use of $500,000,000.