Mike Bloomberg pledges $60M to help House Democrats win in November

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Mike Bloomberg speaks after dropping out of 2020 race: I've no doubt we would have beaten Trump in November

Former Democratic presidential candidate Mike Bloomberg thanks supporters in New York City, throws his support behind Joe Biden.

Former New York City Mayor Mike Bloomberg plans to spend $60 million of his own money to help Democrats strengthen their majority in the House of Reprsentatives in this year’s elections.

A spokesperson for Bloomberg confirmed to Fox News on Monday that the money will be used for digital and TV ads defending many of the representatives that the multi-billionaire business and media mogul helped to victory in the 2018 midterm elections, when the Democrats convincingly won back the majority in the chamber for the first time in 8 years. Some of the funds will also be used to try and defeat Republicans running for re-election.

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The effort – first reported by the Washington Post – will include a transfusion of donations to the House Majority PAC, the leading outside group helping to elect House Democrats. The PAC is aligned with House Speaker Nancy Pelosi. Bloomberg’s $60 million pledge includes $10 million already delivered to House Majority PAC.

“Mike Bloomberg played a role that was pivotal to our success two years ago,” Pelosi said in a statement. “We are so glad that he is staying in the fight to protect and expand the Democratic majority in the House.”

The plans also include a reemergence of Independence USA, a Blomberg created PAC to help candidates running in local state and federal races across the country.

From left, Democratic presidential candidates, former New York City Mayor Michael Bloomberg, Sen. Elizabeth Warren, D-Mass., Sen. Bernie Sanders, I-Vt.,former Vice President Joe Biden, former South Bend Mayor Pete Buttigieg, Sen. Amy Klobuchar, D-Minn., stand on stage before a Democratic presidential primary debate Wednesday, Feb. 19, 2020, in Las Vegas, hosted by NBC News and MSNBC. (AP Photo/Matt York)

Bloomberg shelled out more than $1 billion of his own money on his own 2020 White House bid. After suspending his brief and unsuccessful three and a half month long Democratic presidential campaign in March, Bloomberg transferred $18 million from his campaign coffers to the Democratic National Committee. And he also committed roughly $35 million to the pro-Democratic data consulting firm Hawkfish.

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Bloomberg’s also helping Democratic candidates and causes this cycle through Everytown for Gun Safety, a nonprofit group that fights to combat gun violence and has committed to spending $60 million this year’s elections. Bloomberg – who helped create the organization -- is its biggest contributor. He’s also contributed millions more to other groups helping Democrats in down ballot races and voter protection groups.

News of Bloomberg’s pledge came on the same day that a group of former Bloomberg campaign staffers wrote a letter to Democratic National Committee chair Tom Perez asking to remove the businessman from the schedule of speakers at this week’s Democratic National Convention. Bloomberg is slated to speak Thursday.

The former presidential campaign staffers who penned the letter are part of a class action lawsuit against Bloomberg, claiming that he violated New York State Law for wrongfully terminating their contracts.