Metro Louisville

Billionaire and former New York City mayor Mike Bloomberg announced he was suspending his presidential campaign Wednesday, following a Super Tuesday showing that he said would not lead to becoming the Democratic nominee.

In a statement issued Wednesday, he announced he would endorse front-runner Joe Biden. Soon after, Louisville mayor Greg Fischer, a Bloomberg surrogate and campaign co-chair, tweeted he would also endorse the the former vice president.

In recent weeks, reports indicated Fischer traveled to several states to support Bloomberg at campaign events and a debate. Fischer is one of several mayors across the country who backed Bloomberg. Louisville is one of several cities to receive funding from Bloomberg Philanthropies whose mayors went on to endorse Bloomberg.

Louisville has received millions from Bloomberg entities for projects including gunshot detection technology and data usage improvement.

Bloomberg reportedly spent more than $500 million of his own fortune on his campaign, which launched in November.

In an email statement disseminated Wednesday, Bloomberg said Biden was the candidate with the best chance to beat Donald Trump in November.

“I’ve had the chance to work with Joe on those issues over the years, and Joe has fought for working people his whole life,” he said. “Today I am glad to endorse him – and I will work to make him the next President of the United States.”

In his tweet, Fischer echoed Bloomberg’s assertion calling Biden “the greatest chance we have to restore honor and dignity to the White House.”

Amina Elahi is WFPL's City Reporter.