Less than two months into his presidential campaign, New York billionaire Michael Bloomberg poured $200 million of his own money into his 2020 bid, according to his first campaign finance report. That astonishing figure, which only includes numbers through the end of 2019, will increase dramatically in the coming months. 

By generously funding his own campaign, Bloomberg has already surpassed his 2020 rival Presidential Donald Trump in the record books. Not adjusted for inflation, Trump held the self-financing title for his 2016 campaign, pouring over $66 million of his own money into it. But Trump relied on contributions in the general election and is not personally bankrolling his reelection campaign.

Bloomberg’s figure dwarfs even that of billionaire Ross Perot, who spent $63.5 million of his own money on his 1992 presidential bid. That’s about $115 million when adjusted for inflation.

Bloomberg, who has already accumulated $33 million in debt to his own committee, stuck by his promise to reject all campaign contributions. He argues in his campaign ads that he is the only candidate not beholden to “special interests.” 

The former New York City mayor spent $180 million through the end of the year, twice as much as the next top spender in the Demcoratic primary, Sen. Bernie Sanders (I-Vt.). Bloomberg has already spent $300 million on TV and digital ads through the end of January, according to an estimate from Advertising Analytics. 

Sanders campaign aides have expressed concern about Bloomberg’s massive spending, but so have aides to former Vice President Joe Biden. The two moderates are headed for a clash on Super Tuesday, where Bloomberg has concentrated almost all of his ad spending. Biden aides are reportedly concerned that Bloomberg’s rise could hand Sanders the nomination. 

A recent survey from the Los Angeles Times and University of California found that Sanders has a strong lead in California, which holds roughly 40 percent of Super Tuesday’s convention delegates. Sanders is polling at 26 percent, compared to Biden’s 15 percent and Bloomberg’s 6 percent, according to the poll. 

The Democratic National Committee handed Bloomberg a win Friday when it changed its qualification rules for its Feb. 19 debate in Nevada. Candidates no longer need to hit a donor threshold, only needing to reach 10 percent in four relevant polls. 

If he doesn’t win the nomination, Bloomberg has said he will convert his campaign into an independent effort to support the Democratic nominee in November. He is reportedly willing to spend $1 billion on the election, which would be an unprecedented amount of spending by a single person.

Bloomberg is already supporting Democratic groups as he did in 2018. He gave $10 million to House Majority PAC, the flagship super PAC for House Democrats, according to the group’s year-end filing. 

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