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Mike Bloomberg at a campaign rally in Florida. Matias J. Ocner

Billionaire Mike Bloomberg ends $500m White House run following poor Super Tuesday showing

Bloomberg has endorsed former vice president, Joe Biden, as the man he now wants to take on Donald Trump in November.

US BILLIONAIRE Mike Bloomberg has announced he will be dropping out of the Democratic presidential race after failing to catch up with candidates Joe Biden and Bernie Sanders in the Super Tuesday primaries.

Bloomberg did not take part in the first four primary contests, pinning all his hopes on winning enough delegates in the 14 US states that voted yesterday, and spending more than $500 million in the process.

Former Vice-President Joe Biden won the most delegates across the 14 states, ahead of Vermont Senator Bernie Sanders and Massachusetts Senator Elizabeth Warren, with Bloomberg trailing in fourth place.

This afternoon, however, Bloomberg confirmed that he will be withdrawing from the race and throwing his support behind Biden as the man to take on Trump in the November polling day. 

Taking to Twitter, Bloomberg said: “Three months ago, I entered the race to defeat Donald Trump. Today, I’m leaving for the same reason.

“Defeating Trump starts with uniting behind the candidate with the best shot to do it. It’s clear that is my friend and a great American, Joe Biden.”

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