Mike Bloomberg, owner of Bloomberg TV on Wednesday hours before he enters his first democratic party presidential debate announced he plans to sell off his $60 billion media company if he gets the Democratic party nomination for the presidential elections and beats President Trump.
The news comes hours before the former New York mayor is set to join the debate stage for the first time to meet the wrath of his rivals for the Democratic nomination.
Bloomberg has already come under fire from his fellow Democrats who charge him with trying to buy the election and there are no signs the bombardment will let up
The Billionaire,would sell the media empire he spent decades building if he wins, a good move seeing that Democrats have accused Trump of maintaining and profiting off his real estate empire as president.
Analysts have estimated Bloomberg could sell for as much as $60 billion or even more. Proceeds from the sale would go to Bloomberg Philanthropies, the charitable giving arm that funds causes from climate change to public health and grants for American cities according to Bloomberg 2020 campaign adviser Tim O’Brien .
The former New York City mayor has spent $300 million on television and digital ads thus far, most of them designed to get under Trump’s skin. Bloomberg has said he’s open to spending up to $1 billion on the race.
Trump reacted to the news on Wednesday, tweeting; ‘Is corrupt Bloomberg News going to say what a pathetic debater Mini Mike is, that he doesn’t respect our great farmers, or that he has violated campaign finance laws at the highest and most sinister level with “payoffs” all over the place?’ Trump asked.