Former New York City Mayor Michael Bloomberg Michael BloombergTop Democratic super PAC launches Florida ad blitz after Bloomberg donation The Hill's 12:30 Report - Presented by Facebook - Latest with the COVID-19 relief bill negotiations The Memo: 2020 is all about winning Florida MORE blasted his 2020 Democratic rivals for criticizing him for self-funding his campaign, saying they had a chance to "make a lot of money."

"The point they're making is it's OK if they ask other people for all of their money, and it will help their careers," Bloomberg told CBS News in an interview that aired on Friday.

Bloomberg said he instead prefers to give away his earned money to causes he cares about, like public health, education and the environment.

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"I think I could do a lot of good for the country if I could become president, and so using some of [that] money to fund the campaign is fine," he said.

Bloomberg noted that he did not come from money and worked hard to be a successful businessman.

"I give a hundred percent of the money away. What's wrong with all of that?" he added. "Ask them what they're doing. Why didn't they do that? They had a chance to go out and make a lot of money, and how much of their own money do they put into their own campaigns?"

Progressive Sens. Elizabeth Warren Elizabeth WarrenWarren, Schumer introduce plan for next president to cancel ,000 in student debt The Hill's 12:30 Report - Presented by Facebook - Don't expect a government check anytime soon No new taxes for the ultra rich — fix bad tax policy instead MORE (D-Mass.) and Bernie Sanders Bernie SandersMcConnell accuses Democrats of sowing division by 'downplaying progress' on election security The Hill's Campaign Report: Arizona shifts towards Biden | Biden prepares for drive-in town hall | New Biden ad targets Latino voters Why Democrats must confront extreme left wing incitement to violence MORE (I-Vt.) have slammed Bloomberg's entrance into the 2020 race, painting him as out of touch with the working class.

"We do not believe that billionaires have the right to buy elections, and that is why we are going to overturn Citizens United, that is why multibillionaires like Mr. Bloomberg are not going to get very far in this election, that is why we are going to end voter suppression in America," Sanders said last month at a campaign event.

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Warren pointed to fellow Sens. Kamala Harris Kamala HarrisScott Walker helping to prep Pence for debate against Harris: report California family frustrated that governor, Harris used fire-damaged property for 'photo opportunity' Moderna releases coronavirus vaccine trial plan as enrollment pushes toward 30,000 MORE (D-Calif.) and Kirsten Gillibrand Kirsten GillibrandSuburban moms are going to decide the 2020 election Jon Stewart urges Congress to help veterans exposed to burn pits The Hill's Campaign Report: 19 years since 9/11 | Dem rival to Marjorie Taylor Greene drops out | Collin Peterson faces fight of his career | Court delivers blow to ex-felon voting rights in Florida MORE (D-N.Y.) dropping out of the Democratic primary, arguing that they were forced to end their campaigns while Bloomberg and fellow billionaire Tom Steyer Tom SteyerTV ads favored Biden 2-1 in past month Inslee calls Biden climate plan 'perfect for the moment' OVERNIGHT ENERGY: Trump administration finalizes plan to open up Alaska wildlife refuge to drilling | California finalizes fuel efficiency deal with five automakers, undercutting Trump | Democrats use vulnerable GOP senators to get rare win on environment MORE were able to buy their way into the race.

While Bloomberg is ignoring the early contest states of Iowa and New Hampshire, he is laser-focused on the later Super Tuesday states.

He launched a multimillion-dollar ad buy across a number of states and media markets last month.

The strategy, mixed with Bloomberg's high name recognition, appears to be having an impact in the polls.

A Quinnipiac University poll released last month showed Bloomberg with the support of 3 percent of Democratic and left-leaning independent voters, higher than entrepreneur Andrew Yang Andrew YangDoctor who allegedly assaulted Evelyn Yang arrested on federal charges The Hill's Campaign Report: Biden weighs in on police shootings | Who's moderating the debates | Trump trails in post-convention polls Buttigieg launches his own podcast MORE and former Housing and Urban Development Secretary Julián Castro, as well as Sens. Cory Booker Cory Anthony BookerDHS opens probe into allegations at Georgia ICE facility Democratic lawmakers call for an investigation into allegations of medical neglect at Georgia ICE facility Black Voters Matter Fund deploying voter outreach caravans in 12 states to drive turnout MORE (D-N.J.) and Michael Bennet Michael Farrand BennetOVERNIGHT ENERGY: House Democrats tee up vote on climate-focused energy bill next week | EPA reappoints controversial leader to air quality advisory committee | Coronavirus creates delay in Pentagon research for alternative to 'forever chemicals' Senate Democrats demand White House fire controversial head of public lands agency Next crisis, keep people working and give them raises MORE (D-Colo.).