White House smacked with unexpected election news that could change the entire presidential race

joe biden

Voters are already making predictions on who will win the White House this fall. But their predictions are about to be thrown out the window after this announcement dropped.

As the White House was smacked with unexpected election news that could change the entire presidential race.

As President Joe Biden and former President Donald Trump are gearing up for the 2024 presidential election, they are desperate to receive not only donations to their campaign, but also high-profile endorsements.

Biden has held several swanky fundraising events over recent weeks that have featured Hollywood celebrities and former Democrat Presidents Bill Clinton and Barack Obama.

And while he was able to rake in a ton of cash from those fundraisers, Donald Trump was also able to secure large donations himself after he received a guilty verdict as a result of his sham hush money trial in New York.

But as the back-and-forth fundraising battle continues between the two political rivals, it looks as though Biden got the upper hand last week.

The president was fortunate to receive both an endorsement and a hefty donation after one former politician officially announced his allegiance to the president.

Billionaire and former New York City Mayor Mike Bloomberg has thrown his support behind President Biden’s re-election campaign, contributing a substantial $20 million.

“I stood with Joe Biden in 2020, and I am proud to do so again,” Bloomberg, 82, told the Washington Post.

Future Forward USA PAC, known as FF PAC, a pro-Biden political action committee, received $19 million from Bloomberg, as reported by the Washington Post and Reuters.

Additionally, the Biden Victory Fund, a joint fundraising committee authorized by the campaign of Joe Biden and the Democratic National Committee, obtained $929,600 from Bloomberg, co-founder of Bloomberg L.P.

Last month, President Biden, 81, honored Bloomberg with the Presidential Medal of Freedom during a White House ceremony.

“From finance to media to philanthropy, Michael Bloomberg has revolutionized our economy. He’s transformed how we consume information,” Biden remarked while presenting the nation’s highest civilian honor.

“He’s changed us. He’s challenged us as well, to solve the toughest challenges, from gun violence to climate change. And as mayor, he rebuilt the City of New York after 9/11, channeling our spirit of resilience as a nation and a beacon to the world. Michael, thank you, Mr. Mayor.”

Bloomberg amassed his fortune in financial technology and served as New York City’s mayor from 2002 to 2013, first running as a Republican before becoming an independent. In 2018, he re-registered as a Democrat, the party he originally identified with before his mayoral career. He invested over $1 billion in a 2020 presidential bid but did not succeed, facing Biden in the Democratic primaries.

According to Forbes, Bloomberg’s net worth is estimated at $106 billion, placing him just outside the top 10 on the list of the world’s wealthiest individuals.

Details regarding the timing of his donations to Biden’s re-election campaign remain unclear.

In May, the Biden campaign and the Democratic National Committee collectively raised $85 million for the 2024 presidential race.

This is a boost Joe Biden needed, but will it be enough as the president still trails Donald Trump in multiple national polls?

Only time will tell.

Stay tuned to The Federalist Wire.