Bloomberg shells out millions to help Biden battle Trump in 2024 presidential election rematch

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Former New York mayor, billionaire entrepreneur and media magnate Michael Bloomberg contributed nearly $20 million to help boost President Biden in his 2024 election rematch with former President Trump, sources confirm to Fox News.

Bloomberg, a one-time Republican turned independent turned Democrat, wrote a massive $19 million check to the Future Forward PAC, known as the FF PAC, which is the leading super PAC supporting Biden's bid for a second term in the White House.

And Bloomberg, who briefly ran unsuccessfully against Biden for the 2020 Democratic presidential nomination, also gave the maximum donation of $929,600 to the Biden Victory Fund, a fundraising committee that benefits the president's re-election campaign and various Democratic Party committees.

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Sources with knowledge of the transfers confirmed them to Fox News on Thursday evening.

"I stood with Joe Biden in 2020, and I am proud to do so again," Bloomberg said in a statement to the Washington Post, which was the first news organization to report the massive contributions.

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Bloomberg shelled out a staggering $1 billion of his own money on his 2020 Democratic presidential nomination bid.

After he dropped out of the race, he transferred roughly $18 million to the