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Mike Bloomberg is spending so much money on Facebook ads that he has surpassed President Donald Trump, the reigning king of the social media realm.

Bloomberg, the billionaire media magnate and former mayor of New York, has been pouring millions of dollars into Facebook and its sibling app, Instagram, since he jumped into the Democratic presidential race, easily outpacing the Trump campaign, according to Facebook data compiled by NBC News.

Bloomberg spent more than $1 million a day on average over the past two weeks on Facebook. That's five times more than Trump spent during the same period — and more than three times what Trump spent per day during his victorious fall 2016 campaign.

On a single day, Jan. 30, Bloomberg bought $1.7 million worth of Facebook ads, signaling just how much he's willing to put his wealth behind his long-shot bid.

"His campaign budget is virtually limitless, so he has the luxury of being able to engage on all of the campaign battlefronts," said Fernand Amandi, a Democratic political consultant in Miami who is not working for a presidential candidate this year.

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Bloomberg, with an estimated net worth of around $61 billion, said after the muddled results from the Iowa caucuses that he would ramp up his budget for ads and staff. He's focused on the dozen-plus states that will cast votes on Super Tuesday, March 3, which is reflected in his Facebook spending.

He's spent about $5 million to reach Facebook users in California, which votes on Super Tuesday, along with other states, including Texas, North Carolina and Virginia, where he is also spending big on Facebook.

And Bloomberg is paying for ads in Florida, Illinois, Michigan and Ohio, which vote later in March.

Facebook is generally considered Trump's home turf when it comes to campaign advertising. His campaign invested heavily in the power of the social media network to microtarget voters by location, interests and other factors during the 2016 election. He ran "the single best digital ad campaign I've ever seen," Facebook executive Andrew Bosworth said later.