<p>Billionaire ex-mayor of New York City is focusing funds on House races to help Democrats retake majority in midterms</p><ul><li><p><a href="https://www.theguardian.com/us-news/live/2026/oct/20/donald-trump-midterms-republicans-democrats-north-carolina-latest-updates">US politics live – latest updates</a></p></li></ul><p>The billionaire <a href="https://www.theguardian.com/profile/michael-bloomberg">Michael Bloomberg</a> will spend $80m to help Democratic candidates in the <a href="https://www.theguardian.com/us-news/us-midterm-elections-2026">midterm elections</a>, US media reported on Tuesday, a significant infusion of cash for a party that has recently struggled with fundraising as it seeks to win control of <a href="https://www.theguardian.com/us-news/us-congress">Congress</a>.</p><p>The reported donations came as <a href="https://www.theguardian.com/us-news/donaldtrump">Donald Trump</a> announced on Tuesday he intended to spend a total of $400m to aid Republican candidates, with $300m already disbursed.</p> <a href="https://www.theguardian.com/us-news/2026/oct/20/michael-bloomberg-donation-democrats-midterms">Continue reading...</a>