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Michael Bloomberg, the billionaire philanthropist and winner of just a handful of delegates, has withdrawn from the Democratic presidential race. He endorsed Joe Biden.

“I’m a believer in using data to inform decisions,” Bloomberg said in a statement on Wednesday morning. “After yesterday’s results, the delegate math has become virtually impossible—and a viable path to the nomination no longer exists.”

The former New York City mayor invested more than $500 million of his own money in an effort to become the consensus candidate for a fractured party, but he instead found himself flayed onstage during a pair of debates—most prominently by Sen. Elizabeth Warren (D-Mass.).

No matter where you looked during the feverish weeks of the primary season, Bloomberg was there, with social media influencers shaping the debate online and a half-billion-dollar TV ad campaign seeking to convince voters to send him to the White House.

But Bloomberg’s record as mayor and his behavior toward women at his company dogged his campaign from the outset. During his three terms in city hall, Bloomberg embraced the use of discriminatory policing practices, including the NYPD’s notorious use of stop-and-frisk searches. He had a history of making sexist comments about women in his workplace and received fierce criticism for the number of female former employees who were bound by nondisclosure agreements.

Despite his self-professed adherence to data-based decision-making, Bloomberg gravely miscalculated how far money would get him in this campaign. Turns out, it’s harder to buy the presidency than it seems.

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REAL QUICK, REAL URGENT

Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

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