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Bloomberg receives 45-day extension for public financial disclosure report with FEC

Former New York City Mayor Michael Bloomberg’s presidential campaign was granted a 45-day extension from the Federal Election Commission (FEC) to file his personal financial disclosure. 

The FEC’s extension, the second it has given the Bloomberg campaign, sets a March 20 deadline for the billionaire businessman and philanthropist to shed light on his personal finances. 

In a letter to the FEC, the campaign explained that it needed more time to file the necessary forms due to the intricacy of his holdings and his late entry into the primary field.

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“Mr. Bloomberg, who became a candidate for President of the United States on November 21, 2019, has made diligent efforts to prepare his report. Nevertheless, due to the complexity of his holdings and the need to obtain certain information from third parties, Mr. Bloomberg needs additional time to gather and review his financial information and complete and file his report,” counsel for Bloomberg wrote. 

Bloomberg’s wealth, which is estimated to amount to more than $50 billion, has been thrust into the spotlight in recent weeks after the former mayor dished out millions of his own money to blanket the airwaves and internet with ads to promote his campaign. 

Bloomberg has focused much of his efforts on key states that will hold their primary or caucuses on Super Tuesday and beyond, including delegate-rich states such as California and Florida.

While his personal war chest could help gin up support for his White House bid, Bloomberg’s billions could also make him a target for activists as the Democrat Party’s base becomes increasingly skeptical of billionaires and their influence in national politics.

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