It's impossible to have too much money, especially if you want to be the President of the United States.

POLITICS

ELECTION 2020

Wall Street Journal - Michael Bloomberg Put $200 Million Into Presidential Bid in First Five Weeks

More than $140 million went toward TV and digital advertising; $679,000 was spent on short-term, corporate housing for staff.

By Tarini Parti and Chad Day

January 31, 2020

Michael Bloomberg put about $200 million of his own money into his presidential campaign in its first five weeks, roughly the same amount as the rest of the Democratic field had spent in the third quarter.

The former mayor of New York City, who is entirely self-funding his campaign, spent $188 million between his late-November entry to the race and the end of last year, according to a disclosure filed with the Federal Election Commission Friday.

More than $140 million went toward TV and digital advertising during that period, the filing shows. Mr. Bloomberg’s spending has continued at a rapid pace since then.

As of Friday, he has poured nearly $300 million into TV, radio and digital advertising, according to political ad tracker Kantar/CMAG. He also has more than 1,000 people on staff, his campaign has said.

Advertising spending is reported more regularly, but the fourth-quarter FEC filing gives the clearest picture yet of the billionaire’s overall spending on his unconventional White House bid. It doesn’t capture his spending beyond the end of 2019. Candidates have until the end of Friday to file disclosures with the FEC detailing their campaign finances for the fourth quarter of 2019.

Mr. Bloomberg is bypassing the first four nominating contests and competing only in states that start voting in early March, some of which will be competitive in a general election against President Trump.

“Our first month’s filing represents a down payment and commitment in all 50 states to defeat Donald Trump, and it shows we have the resources and plan necessary to take him on,” Kevin Sheekey, Mr. Bloomberg’s campaign manager, said in a statement.

The Bloomberg campaign reported $1.7 million in payroll, a figure that includes the compensation of employees who worked in the run-up to the candidate’s formal entry into the presidential race.

Mr. Bloomberg made a $14 million prepayment to his company, Bloomberg LP, for costs including the use of its private plane and employees who moved over to work for the campaign.

The campaign also shelled out $12 million to Hawkfish LLC, a data and digital company Mr. Bloomberg created months before announcing his run.

About $3.2 million went to Schoen Survey Research LLC, the company of pollster Doug Schoen. That amount included about $1.2 million that the campaign says Mr. Bloomberg spent before formally announcing his run. His campaign is also paying $3.2 million to rent a list of voter-contact information built by Everytown For Gun Safety Action Fund, a group he funds.

Mr. Bloomberg’s campaign spent more than $1.5 million on rent, plus an additional $679,000 that went to short-term, corporate housing for campaign staff. Mr. Bloomberg offered housing regardless of seniority, according to a campaign aide, because his team asked new hires to move to New York City, where short-term housing can be tough to find, on a tight timeline.

During the five-week period covered by the FEC filing, Mr. Bloomberg, who provides food for his staff in the office, also spent $315,000 on meals.

He put $106,000 into staff recruitment, according to the filing, and paid $646,000 for private plane use and $161,000 for hotels.

The campaign also spent $50,000 on Bloomberg terminals, the machine used almost exclusively by traders that is at the center of the candidate’s financial data, information and communication empire.

Write to Tarini Parti at Tarini.Parti@wsj.com and Chad Day at Chad.Day@wsj.com