Bloomberg Spent $11 Million Per Delegate Won
Kudos to billionaires Michael Bloomberg and Tom Steyer for debunking the long and wide-held assumption that money can buy you an election – all it cost was a combined $800+ million dollars.
Steyer spent $267 million – upwards of an entire fifth of his net worth, while Bloomberg shelled out approximately $560 million, more than any candidate has ever spent to accomplish so little. Jeb! must be relieved to no longer hold the title.
While Bernie Sanders’ prospects of winning the Democrat nomination are fleeing, at least he can sleep tight knowing he made two billionaires $800+ million poorer.
Bloomberg has left the race and endorsed Joe Biden this morning after winning only American Samoa on super Tuesday. One might say he came up short.
His win with nearly fifty percent of the vote there is considerably less impressive when you realize that half the vote in American Samoa is 175 votes.
And the cost of each delegate there was astronomical. At the time of his Samoa win his cost per delegate exceeded $10 million, but he was at least able to bring that down a bit before the end of the night, scoring a total of 50 delegates. Eleven million dollars spent per delegate may be embarrassing, but at least it isn’t as embarrassing as $100 million per delegate.
For contrast with another failing candidate, Elizabeth Warren has spent $1.7 million per delegate won (having earned 53 total). Bernie Sanders outspent Biden twenty-five to one in super Tuesday states.
And yet Biden came out the big victor in the end – having spent a mere $1.3 million on advertising in super Tuesday states. He now has 564 delegates overall.
Looking at overall spending, Biden has spent $110,000 per delegate, or 1% as much as Bloomberg.
Update: Biden’s cost per delegate figure has been revised accordingly to include delegates from his just announced win in Maine.