Bloomberg drops out of presidential race, endorses Biden

Democratic presidential candidate and former New York City Mayor Michael Bloomberg talks to supporters Tuesday, Feb. 4, 2020 in Detroit. (AP Photo/Carlos Osorio)
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LOS ANGELES (AP) - Billionaire Mike Bloomberg has ended his bid for the Democratic presidential nomination and has endorsed Joe Biden.

It was a stunning collapse for the former New York City mayor, who had pinned his 2020 hopes on the Super Tuesday states and drained more than $500 million from his own fortune into his ultimately unsuccessful campaign.

Bloomberg announced his departure Wednesday after a disappointing finish on Super Tuesday in the slate of states that account for almost one-third of the total delegates available in the Democratic nominating contest. 

Some of his former Democratic rivals had coalesced around Biden as the moderate alternative to Vermont Sen. Bernie Sanders.

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