What would you do with one hundred and nine million dollars?
Again, that’s 109,000,000.
Mayor Michael Bloomberg decided to spend that much money in order to run for a third term as New York City Mayor. In 2009, he won by four points. But why? Why are many politicians and candidates spending hundreds of times more getting into, or staying in office, than they could hope to make? Even through later book deals, and special interest kickbacks, there is no recovering this kind of cash spent campaigning. In 2008, the winning candidates outspent their opponents 90% of the time in House and Senate Races (Center For Responsive Politics). The record for self-funded millionaires and billionaires who enter races is much worse. Of the 51 self-funded super wealthy in 2008 races, 37 either lost or quit before election day. Roughly 41 percent never got passed their primaries.
I would think that if they wanted to get more political bang for their buck, they would groom someone from scratch, a well-funded proxy grown in a laboratory and engineered for sound bites.