Potential US presidential candidate Michael Bloomberg spends record amount for TV ads

Billionaire Michael Bloomberg, a potential candidate for 2020 US election, is planning to launch a $31 million television advertising campaign on Monday. 

As per ad tracking firm Advertising Analytics, Bloomberg has purchased a total of $31 million in advertising inserts, the largest sum ever spent by a US presidential candidate. 

Bernie Sanders, one of the frontrunners in the presidential race, slammed the move in a tweet on Friday and stating he was "disgusted by the idea that Michael Bloomberg or any billionaire thinks they can circumvent the political process and spend tens of millions of dollars to buy elections".

He tweeted that if you can't build grassroot support for your candidacy than "you have no business running for president." 

The amount exceeds the record $25 million spent by former US president Barack Obama in 2012 for his campaign and reflects the financial might of one of the richest men in the world. 

Bloomberg, a former New York mayor from 2002 to 2013, registered on Thursday with the US Federal Election Commission, a step closer to running for US presidency. 

Nearly two weeks ago, Bloomberg said that he was "close" to take a final call on whether to enter the crowded battleground of Democrats for 2020 presidency. 

(with inputs from AFP)