Michael Bloomberg Reportedly Prepared to Spend $2 Billion to Defeat Trump

A new report has shed some light on how much Michael Bloomberg plans to spend to beat President Donald Trump.

Fox Business’ Lydia Moynihan and Charles Gasparino report that according to Wall Street sources connected to Bloomberg’s campaign, the former New York City mayor is prepared to spend up to $2 billion for the effort to remove the president. Per Fox, Bloomberg is prepared to spend $2 billion on his own campaign, or on the run of whoever the general election nominee is.

From the report:

While Trump touts his own net worth at $10 billion, most private estimates cite his holdings at around $3 billion to $4 billion. There are also questions over whether Trump is “liquid” since it is believed that his wealth is tied up in real estate, golf courses and other assets such as his Mar-a-Lago country club, which may be why he is loath to spend much of his own money on his campaign.

Bloomberg, meanwhile, is worth $53 billion, money he compiled during a long career on Wall Street and as the founder of the eponymous financial data and news outfit Bloomberg LP before serving three terms as mayor of New York City.

The Bloomberg campaign has made a point of flexing his superior wealth to Trump, having confirmed they’re buying a Super Bowl ad slot in order to hit Trump in the middle of the big game. If Bloomberg goes ahead with his reported plan, the 2020 election will be the most expensive in U.S. history.

“No one can approach what Mike is spending or will spend,” Alan Patricof, head of venture capital firm Greycroft Partners, told Fox Business. “He has a huge war chest.”