Home False: Bloomberg could have given each American $1million and still have millions left with him from the $500m spent on ads during his contention for the Democratic presidential candidacy.

False: Bloomberg could have given each American $1million and still have millions left with him from the $500m spent on ads during his contention for the Democratic presidential candidacy.

By: Khagesh KG
March 7 2020

False: Bloomberg could have given each American $1million and still have millions left with him from the $500m spent on ads during his contention for the Democratic presidential candidacy.

Fact-Check

The Verdict False

Bloomberg will need $327 trillion to distribute $1 million to each American as $500 million can only be distributed among 500 people.

Claim ID c3980b3d

Bloomberg will need $327 trillion to distribute $1 million to each American as $500 million can only be distributed among 500 people.The financial summary published by the Federal Election Commission(FEC) states that Michael Bloomberg spent around $500 million on political advertisements. It’s also true that the United States has a population of approximately 327 million people. However, if Bloomberg divides the money that he spent on political ads of around $500 million equally among 327 million people, each American would only get around $1.50. According to simple maths, for every American to receive $1 million, he would need a wealth of $327 trillion.

Reference Links

Federal Election Commission

Supports

U S Department of Commerce