BREAKING: After Spending $650 Million to Win American Samoa, Bloomberg Ends Presidential Campaign

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After skipping early voting states and spending nearly $650 million, falsely betting that he would win a majority of Super Tuesday states, former New York Mayor and billionaire playboy Michael Bloomberg ended his campaign on Wednesday morning.

Bloomberg, who self funded a campaign that will likely be best remembered for its nonstop advertising on both traditional and digital media, paying social media influencers to promote his candidacy, and the candidate’s poor debate performances, had a miserable night on Super Tuesday.

Despite the massive advertising buys in Super Tuesday markets, Bloomberg only gained enough of the vote to be eligible for delegates in 9 of the 15 contests. He only won American Samoa, and netted five delegates as a result.

On Twitter, the candidate already endorsed former vice president Joe Biden.

“Three months ago, I entered the race to defeat Donald Trump. Today, I’m leaving for the same reason,” wrote Bloomberg. “Defeating Trump starts with uniting behind the candidate with the best shot to do it.”

“It’s clear that is my friend and a great American, @JoeBiden.”

Bloomberg also thanked his “dedicated staff and volunteers.” It is worth noting that his paid staff will continue to receive pay through the end of the primary season, as Bloomberg offered unheard of compensation in an effort to recruit the best available talent for his campaign.

For his part, President Donald Trump began deriding Bloomberg last night for his pitiful performance on Super Tuesday.

“The biggest loser tonight, by far, is Mini Mike Bloomberg,” wrote President Trump. “$700 million washed down the drain, and he got nothing for it but the nickname Mini Mike, and the complete destruction of his reputation.”

After Bloomberg formally ended his campaign, President Trump continued mocking the failed candidate on Twitter.

“Mini Mike Bloomberg just ‘quit’ the race for President,” wrote President Trump. “I could have told him long ago that he didn’t have what it takes, and he would have saved himself a billion dollars, the real cost.”

President Trump continued, “Now he will pour money into Sleepy Joe’s campaign, hoping to save face.”

“It won’t work!”

Despite Sen. Elizabeth Warren (D-MA) and Rep. Tulsi Gabbard (D-HI) still participating in the race, it has largely come down to Sen. Bernie Sanders (I-VT) and Biden.

Last night, Biden had several unexpected victories, and now leads Sanders in total delegates.

If neither candidate receives an overwhelming majority of delegates, the Democrats will experience a brokered convention, allowing party insiders to decide who will be the presidential nominee.

As National File reported, many still expect Hillary Clinton to play a role, with the failed 2016 candidate receiving better odds on betting website PredictIt than Warren.