As of today, Mike Bloomberg has announced that he’s dropping out of the Democratic presidential race and endorsing Joe Biden.

According to various reports, the billionaire former mayor of New York spent over $500 million on his campaign.

He released a statement, which reads:

“I’ve always believed that defeating Donald Trump starts with uniting behind the candidate with the best shot to do it. After yesterday’s vote, it is clear that candidate is my friend and a great American, Joe Biden. I’ve known Joe for a very long time. I know his decency, his honesty, and his commitment to the issues that are so important to our country – including gun safety, health care, climate change, and good jobs.”

This comes after Pete Buttigieg and Amy Klobuchar dropped out of the race and are now also supporting Biden.