• by Karlene Lukovitz  @KLmarketdaily, November 25, 2019

While his odds may look long at present, one thing’s for sure: Michael Bloomberg’s announcement that he’s officially a candidate for the Democratic presidential nomination is good news for television and other media.

Although Bloomberg has declared that he won’t take campaign contributions, his campaign has already reserved more than $30 million in TV ad time, reports The Guardian.

That’s not a stretch for the media mogul: Forbes currently estimates his net worth at $58 billion, making him the ninth-richest person in the country and the fourteenth-riches in the world.

The first ad in the campaign (below), themed “Rebuild America,” has begun airing.

The ad talks about Bloomberg coming from the middle class, paying his way through college, and building a global business, as well as his contributions as an individual and three-time mayor of New York City to job creation, education, health care and environmental and gun-control efforts.

Bloomberg spent a record $102 million, or $172 per vote, in his final mayoral reelection campaign.