What Bloomberg's win cost him
Jay Newton-Small runs the numbers:
Bloomberg, a former Republican who ran this time as an Independent, spent more than $85 million of his personal fortune on the race -- dwarfing the amount Thompson raised -- the most cash dispensed for a self-financed campaign ever. This brings the total amount he's spent for three terms to a quarter of a billion dollars -- a drop in the bucket for Bloomberg who is estimated to be worth more than $16 billion. [...]
[Last night's] race was so close in New York that NBC News, after calling the race for Bloomberg, had to retract its call. It wasn't until more than 96% of the vote was in that the Associated Press called the race for Bloomberg who leads with 50.5% of the vote to Thompson's 46.2%. That's nearly $20 million a percentage point.
By
Ezra Klein
|
November 4, 2009; 11:12 AM ET
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Posted by: adamiani | November 4, 2009 11:18 AM | Report abuse
If you do the math, the total that Bloomberg has spent on his elections is only 1.5% of his net worth. Not a big deal really.
Posted by: ChicagoIndependant | November 4, 2009 11:30 AM | Report abuse
Note that Corzine dropped $23 million of his own money in a losing effort, for a total of about $120 million of personal cash spent on three elections.
Posted by: tomtildrum | November 4, 2009 12:42 PM | Report abuse
> nearly $20 million a percentage point
Nonsense. He spent 85/50 million $/% point.
Posted by: wankme | November 4, 2009 2:01 PM | Report abuse
It's good to be king.
Posted by: pseudonymousinnc | November 4, 2009 3:02 PM | Report abuse
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Apparently, New Yorkers are comfortable with people being able to buy control of their elective offices, and change the rules so they can hold them for life. But who are we to judge?