Michael Bloomberg Photo by Yana Paskova/Getty Images

Michael Bloomberg, former New York Mayor and billionaire media mogul, who is considering a presidential bid reportedly spent $30 million on TV ads in one week, which is more than almost all his potential Democratic rivals spent in a year.

According to The New York Times, these will be 60-second biographical ads that will run next week in at least 29 states across the US.

While Bloomberg hasn’t officially announced whether he is running for president, he recently filed paperwork to run in the 2020 race and to compete in the primaries in Texas, Alabama, and Arkansas.

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Mike Bloomberg hasn’t even announced his candidacy for president, but he spent more on TV ads this week than all his potential Democratic rivals spent in a whole year.

The billionaire and former New York City mayor reportedly dropped $30 million on a series of 60-second ads that will run next week in at least 29 states across the US, The New York Times reported Friday, citing data from Medium Buying.

Bloomberg’s top advisor Howard Wolfson told The Times that he is „is prepared to spend what it takes to defeat Donald Trump.“

According to Medium Buying, his top three markets for ad spending are New York, Los Angeles, and Houston. A source familiar with the matter told The Times that his first ads will be biographical.

Bloomberg has not yet officially announced whether he is running for president; he has, however, filed the necessary paperwork to run in the 2020 presidential race and to compete in the primaries in Texas, Alabama, and Arkansas.

News of his potential presidential bid was first reported by The Times at the beginning of November. Sources familiar with the matter told The Times that he been „privately weighing a bid for the White House for weeks“ but had not yet made a decision to run.

His campaign faces potential roadblocks, however. As Business Insider’s Eliza Relman previously reported, Bloomberg’s status as a self-funded billionaire could stand against him and previous sexual harassment allegations made at executives at his media company could come back to haunt him. These included sexist remarks that were allegedly made by Bloomberg himself.