New York Times: Bloomberg’s Billions: How the Candidate Built an Empire of Influence

In the fall of 2018, Emily’s List had a dilemma. With congressional elections approaching and the Supreme Court confirmation battle over Judge Brett M. Kavanaugh underway, the Democratic women’s group was hosting a major fund-raising luncheon in New York. Among the scheduled headline speakers was Michael R. Bloomberg, the former mayor, who had donated nearly $6 million to Emily’s List over the years.

Days before the event, Mr. Bloomberg made blunt comments in an interview with The New York Times, expressing skepticism about the #MeToo movement and questioning sexual misconduct allegations against Charlie Rose, the disgraced news anchor. Senior Emily’s List officials seriously debated withdrawing Mr. Bloomberg’s invitation, according to three people familiar with the deliberations, who spoke on the condition of anonymity.

In the end, the group concluded it could not risk alienating Mr. Bloomberg. And when he addressed the luncheon on Sept. 24 — before an audience dotted with women clad in black, to show solidarity with Christine Blasey Ford, the woman who accused Judge Kavanaugh of sexual assault — Mr. Bloomberg demonstrated why. …

A Times examination of Mr. Bloomberg’s philanthropic and political spending in the years leading up to his presidential bid illustrates how he developed a national infrastructure of influence, image-making and unspoken suasion that has helped transform a former Republican mayor of New York City into a plausible contender for the Democratic nomination. If anything, his claim — and his support among anxious moderates — has grown stronger with the ascent of the “democratic socialist” Senator Bernie Sanders in early voting in Iowa and New Hampshire.

Since leaving City Hall at the end of 2013, Mr. Bloomberg has become the single most important political donor to the Democratic Party and its causes. His personal fortune, built on a financial information and news company, is estimated at over $60 billion. It fuels an advocacy network that has directed policy in dozens of states and cities; mobilized movements to take on gun violence and climate change; rewritten election laws and health regulations; and elected scores of politicians to offices as modest as the school board and as lofty as the Senate. …

It is not simply good will that Mr. Bloomberg has built. His political and philanthropic spending has also secured the allegiance or cooperation of powerful institutions and leaders within the Democratic Party who might take issue with parts of his record were they not so reliant on his largess.

In interviews with The Times, no one described being threatened or coerced by Mr. Bloomberg or his money. But many said his wealth was an inescapable consideration — a gravitational force powerful enough to make coercion unnecessary.

“They aren’t going to criticize him in his 2020 run because they don’t want to jeopardize receiving financial support from him in the future,” said Paul S. Ryan, vice president of policy and litigation at the good-government group Common Cause.