'To defeat Donald Trump': Billionaire Michael Bloomberg drops out of US presidential race, endorses Joe Biden's candidacy

Washington: Failing to mark in the Super Tuesday primaries after reportedly spending more than half a billion dollars from his own pocket, US media tycoon Michael Bloomberg on Wednesday dropped out of the presidential race and endorsed former vice president Joe Biden’s candidacy.

“Today, I am leaving the race for the same reason: to defeat Donald Trump – because it is clear to me that staying in would make achieving that goal more difficult,” Bloomberg said in a statement “I’m a believer in using data to inform decisions. After yesterday’s results, the delegate math has become virtually impossible – and a viable path to the nomination no longer exists. But I remain clear-eyed about my overriding objective: victory in November. Not for me, but for our country. And so while I will not be the nominee, I will not walk away from the most important political fight of my life,” he said.

Bloomberg, the former Mayor of New York, immediately endorsed 77-year-old Biden who has emerged as the frontrunner among the Democratic presidential aspirants after the primaries in 14 states on 3 March. Biden won nine states, while Senator Bernie Sanders won four and the two are tied in the State of Maine.

“I have always believed that defeating Donald Trump starts with uniting behind the candidate with the best shot to do it. After yesterday’s vote, it is clear that candidate is my friend and a great American, Joe Biden,” Bloomberg said.

In the last three days, Biden has earned the endorsements of three presidential aspirants. The two other being Senator Amy Klobuchar and former mayor Pete Buttigieg. Trump in a tweet said that by not joining the race, Bloomberg would have saved himself a billion dollars.

Trump in a series of tweets also took a dig at other Democratic presidential candidates who performed badly on Super Tuesday.

Trump also alleged that the Democratic establishment is working against Sanders.