Former New York City Mayor Michael Bloomberg Michael BloombergThe Hill's 12:30 Report - Presented by Facebook - Latest with the COVID-19 relief bill negotiations The Memo: 2020 is all about winning Florida The Hill's Morning Report - Sponsored by The Air Line Pilots Association - Trump, Biden renew push for Latino support MORE and businessman 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 spent a combined $340 million in the last quarter of 2019, far outpacing the amount spent by their rivals in the Democratic presidential race.

The two billionaire candidates competing in the crowded Democratic primary also gave their campaigns a combined $355 million in the same period, according to Federal Election Commission data released on Friday.

Bloomberg, who is entirely self-funding his campaign, spent more than $188 million in the fourth quarter and ended the period with $12 million in cash on hand. Steyer spent around $153 million in the last quarter of the year and ended it with $5.4 million in cash on hand.

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The figures show that Bloomberg and Steyer each spent more in the final three months of 2019 than four of the top Democratic contenders combined.

Sen. Bernie Sanders Bernie SandersSenate Republicans signal openness to working with Biden Hillicon Valley: DOJ indicts Chinese, Malaysian hackers accused of targeting over 100 organizations | GOP senators raise concerns over Oracle-TikTok deal | QAnon awareness jumps in new poll Schumer, Sanders call for Senate panel to address election security MORE (I-Vt.) spent a little more than $50 million in the fourth quarter, while former South Bend, Ind. Mayor Pete Buttigieg Pete ButtigiegBogeymen of the far left deserve a place in any Biden administration Overnight Defense: Woodward book causes new firestorm | Book says Trump lashed out at generals, told Woodward about secret weapons system | US withdrawing thousands of troops from Iraq A socially and environmentally just way to fight climate change MORE spent $34 million and Sen. Elizabeth Warren Elizabeth WarrenNo new taxes for the ultra rich — fix bad tax policy instead Democrats back away from quick reversal of Trump tax cuts It's time for newspapers to stop endorsing presidential candidates MORE (D-Mass.) spent $33.7 million. Former Vice President Joe Biden Joe BidenThe Memo: Warning signs flash for Trump on debates Senate Republicans signal openness to working with Biden National postal mail handlers union endorses Biden MORE spent more than $23.3 million during that period.

The spending totals appear to have benefited Bloomberg and Steyer in recent polls, with Bloomberg especially seeing a bounce in national surveys.

A Morning Consult survey released on Tuesday showed Bloomberg, who entered the race in November, hitting 12 percent support, putting him ahead of Buttigieg and Sen. Amy Klobuchar Amy KlobucharEPA delivers win for ethanol industry angered by waivers to refiners It's time for newspapers to stop endorsing presidential candidates Biden marks anniversary of the Violence Against Women Act, knocks Trump and McConnell MORE (D-Minn.).

Bloomberg is not competing in the early primary and caucus states and has instead focused his resources on massive ad buys in the Super Tuesday states.

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He spent roughly $132 million on TV advertisements in addition to $8.19 million on digital ads.

Steyer has also worked to inundate the airwaves with advertisements in addition to making the Democratic debate stage.

A Morning Consult poll of the four early primary and caucus states showed Steyer at 15 percent earlier this month.