He may have pumped millions of his own dollars into a bid for U.S. presidency, but today (March 4) Michael Bloomberg announced his intent to bid adieu to the campaign trail.

Details inside:

Report:

In a statement Wednesday, Bloomberg said staying in the race would make it more difficult for Democrats to defeat President Donald Trump.

“I’m a believer in using data to inform decisions. After yesterday’s results, the delegate math has become virtually impossible – and a viable path to the nomination no longer exists,” Bloomberg’s statement read. “But I remain clear-eyed about my overriding objective: victory in November. Not for me, but for our country. And so while I will not be the nominee, I will not walk away from the most important political fight of my life.”

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As for who the former White House hopeful will be throwing his support behind?  Joe Biden.

“I’ve always believed that defeating Donald Trump starts with uniting behind the candidate with the best shot to do it. After yesterday’s vote, it is clear that candidate is my friend and a great American, Joe Biden,” Bloomberg said.

The former Vice President reclaimed his frontrunner status among potential Democratic nominees after a stunning Super Tuesday victory yesterday (March 3).

Click here to read more on that.

[photo sources:  Getty Images]

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