(CNN)Michael Bloomberg has decided to form a new group to take on President Donald Trump, an aide to the former New York mayor tells CNN.
Bloomberg ended his campaign on Wednesday and threw his support behind former Vice President Joe Biden. But, according to the aide, the group Bloomberg plans to build will focus on supporting the Democratic nominee and opposing Trump, not helping Biden in the primary. The group will also support down-ballot Democrats.
The group will be the primary vehicle Bloomberg uses to spend his vast fortune on defeating Trump and backing Democrats, something he pledged to do whether or not he won the party's nomination. Bloomberg is worth well over $50 billion, according to estimates.
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The independent expenditure, the aide said, will deploy hundreds of staffers from his presidential campaign to six key swing states: Arizona, Florida, North Carolina, Michigan, Pennsylvania and Wisconsin.
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The name, scope and budget for the organization has yet to be determined, the aide added. Like all independent expenditures, the yet-to-be-named entity will not be allowed to coordinate with any campaigns.
Bloomberg will also continue to fund Hawkfish, the digital operation that propelled his months-long presidential campaign, the aide said. The group will operate as a separate entity, as it did through the campaign, but Bloomberg independent expenditure is positioned to be the group's primary client.
Bloomberg's money could prove vital to Democrats in 2020, especially considering how much the party has been forced to spend in the primary while Trump amasses a war chest for the general. It is also believed that Bloomberg's focus on Hawkfish could level the data playing field that Republicans, led by the Republican National Committee, has long dominated.
The name, scope and budget for the organization has yet to be determined, the aide added. Like all independent expenditures, the yet-to-be-named entity will not be allowed to coordinate with any campaigns.
Bloomberg will also continue to fund Hawkfish, the digital operation that propelled his months-long presidential campaign, the aide said. The group will operate as a separate entity, as it did through the campaign, but Bloomberg independent expenditure is positioned to be the group's primary client.
Bloomberg's money could prove vital to Democrats in 2020, especially considering how much the party has been forced to spend in the primary while Trump amasses a war chest for the general. It is also believed that Bloomberg's focus on Hawkfish could level the data playing field that Republicans, led by the Republican National Committee, has long dominated.