Michael Bloomberg

Bloomberg Spent $7.5 Million in Failed Effort to Destroy the Democratic Party
29-Nov-03
Michael Bloomberg

"Mayor Michael R. Bloomberg spent $7.5 million of his own money to promote his proposal for nonpartisan elections, a ballot initiative that New Yorkers soundly defeated at the polls earlier this month. The large sum - which stunned even some of Mr. Bloomberg's most hardened political opponents - was disclosed by the mayor's office on the day after Thanksgiving, when it was guaranteed to receive as little attention as possible. 'I can't believe that he spent that much money,' said Assemblyman Herman D. Farrell Jr., the state Democratic Party chairman. 'I never thought it would reach that amount. The people of New York City have proven what I've always known, that they were smart enough to not let him buy a City Charter.'... The $7.48 million represents less than half of one percent of Mr. Bloomberg's personal fortune, estimated at more than $4 billion. It works out to about $52 for each vote that Mr. Bloomberg's charter revision proposal received on Nov. 4." Bloomberg lost 70%-30%.