Appearing on the cover of this week's Time magazine, New York City Mayor Michael Bloomberg explains how he plans to use his sizable fortune to alter the debate on everything from climate change to guns.
This year alone, Mr. Bloomberg — worth an estimated $31 billion — plans to spend roughly $400 million, or 1.3 percent of his fortune, on issues important to him, Time said in a press release.
Mr. Bloomberg said a priority is to spend heavily to defeat Democratic Sen. Mark Pryor for his vote against federal background checks on guns. He has even proposed a plan to call every Democratic voter in Arkansas, Time reported.
The Independent is also considering dumping money into the Virginia governor's race to boost Terry McAuliffe, who is stronger on gun control.
He refused to view the recent Colorado recalls as a failure, saying: "What do you mean we lost? I'm sorry for those two people [Senate President John Morse and Sen. Angela Giron]. But we won in Colorado. On to the next state."
Mr. Bloomberg also stressed the importance of private philanthropy, promising to give away the bulk of his fortune — "bouncing the check to the undertaker," in his words.
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