Mike Bloomberg Withdraws From Presidential Race

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Former New York City mayor Mike Bloomberg announced on Wednesday, March 4 that he is withdrawing from the Democratic presidential race. His announcement follows withdrawals from Tom Steyer, Pete Buttigieg, and Amy Klobuchar.

Bloomberg underperformed on Super Tuesday, failing to win anywhere except American Samoa.

He is endorsing former Vice President Joe Biden.

Bloomberg tweeted about his decision, writing, "Three months ago, I entered the race to defeat Donald Trump. Today, I'm leaving for the same reason. Defeating Trump starts with uniting behind the candidate with the best shot to do it. It's clear that is my friend and a great American, Joe Biden."

Four Democratic candidates remain: Joe Biden, Elizabeth Warren, Bernie Sanders, and Tulsi Gabbard.

Bloomberg spent over $500 million on his campaign. He has promised to use his financial resources to help defeat Trump even now that he's out of the running.

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