Bloomberg Drops Out of 2020 Race, Endorses Biden After Costly Campaign

Former New York City mayor and 2020 presidential candidate Michael Bloomberg during the U.S. Conference of Mayors in Washington on Jan. 22, 2020. Charlotte Cuthbertson/The Epoch Times

Former New York City Mayor Michael Bloomberg withdrew from the Democratic presidential race on March 4, hours after finishing well behind in states that voted on Super Tuesday.

“Three months ago, I entered the race for President to defeat Donald Trump,” Bloomberg, 78, said in a statement.