Report: New York Mayor Bloomberg is US' biggest election spender

Oct 24, 2009, 8:16 GMT

New York - US financial mogul and New York Mayor Michael Bloomberg has set a record by spending more of his own money than any other individual in United States history in the pursuit of public office, the New York Times reported Saturday.

The latest available campaign records show Bloomberg has forked out 85 million dollars on his latest re-election campaign so far, according to the newspaper.

With Bloomberg looking set to spend between 110 and 140 million dollars before the election on November 3, his overall spending on three bids for office is expected to hit a record 250 million dollars, the report said.

The latest polls show the 67-year-old incumbent has a 16-point lead over his rival William Thompson, a Democrat, who has spent just 6 million dollars on his own campaign.

The Times quoted a spokeswoman for Thompson as saying the Bloomberg's campaign spending is 'obscene'.

The spending has been mostly on television, radio and internet advertising, transport and lavish parties, with a bill for food so far of 322,521 dollars and 39,858 dollars for parking, the report said.

In the past, other US businessmen have pumped huge sums of money into their bids for public office, but none on the scale being seen in the New York mayoral race. Presidential candidate Ross Perot spent 65 million dollars in 1992 and another 10 million dollars four years later.

Bloomberg, who is ranked among the wealthiest people in the United States and, with a personal fortune estimated at around 16 billion dollars, New York's wealthiest, took office in early 2002. He was re- elected in 2005.