Democrat aspirant Michael Bloomberg is the 12th richest man in the world with a net worth of over $60 billion. If he wins the nomination, Bloomberg will be pitted against another billionaire, the incumbent president, Donald Trump. And this is where money will be a behemoth to impact the election scene.
In the USA, unlike most other democracies in the world, the sky is the limit in election spending.
Bloomberg joined the nomination race in November last year, much later than other candidates. According to a report in the Quartz, he has already spent over $400 million, compared to $120 million by Bernie Sanders, and $90 million by Elizabeth Warren, the two front runners.
Where the money is being spent. Traditionally most of that spending goes to advertising, targeted campaigns, staff, and management.
But in the case of Bloomberg, he is seeking paid volunteers to “share” his messages on social media. That means those who are on Facebook, for example, can carry his news and views and get paid as well.
His unlimited funds in the election fray have worried the other candidates.