Politics

Bloomberg Donates $80 Million to Democrats, Cautions Against Party’s Leftward Drift

By Ravi Hari

Former New York City mayor and billionaire Michael Bloomberg has donated roughly $80 million to Democratic candidates and causes ahead of the U.S. midterm elections, according to The New York Times. Bloomberg’s team reportedly shared details of the contributions with the newspaper before the bulk of the donations appear in campaign‑finance filings. The 84‑year‑old megadonor is focused on helping Democrats win a sizable majority in the House of Representatives. Howard Wolfson, Bloomberg’s political adviser, said the former mayor believes financial resources are essential in election campaigns and that he expects a result. At least $50 million of Bloomberg’s latest spending is earmarked for House races. The contributions include $24 million for Everytown for Gun Safety, the gun‑control advocacy group co‑founded by Bloomberg, and $16 million for House Majority PAC, a super‑PAC aligned with Democratic House Minority Leader Hakeem Jeffries. Bloomberg wants Democrats to secure a sufficiently large majority to govern effectively, rather than merely reaching the 218 seats required to control the House. Wolfson told the Times that the difference between 221 and 230 seats matters for the next Congress. Despite his substantial financial support, Bloomberg remains concerned about the party’s ideological direction, particularly its positions on Israel. The adviser said Bloomberg was not directing money toward left‑wing supporters of the Democratic Socialists of America. Bloomberg has not yet decided whom to support in the broader political landscape, though one of his donations during the current election cycle backed Pennsylvania Governor Josh Shapiro, who is viewed as a potential Democratic presidential contender. Bloomberg’s contributions could provide additional resources to Democrats in closely contested races as Republican‑aligned groups deploy substantial sums to support their candidates. Elon Musk and a super‑PAC aligned with former President Donald Trump have unleashed hundreds of millions of dollars in support of Republicans. Bloomberg’s latest spending therefore comes at a critical time for Democrats, who are focused on flipping the House and securing a majority large enough to govern with greater flexibility.