Bloomberg spent $18.4 million for exactly one delegate in Virginia and North Carolina

Former New York City Mayor Mike Bloomberg is projected to earn just one extremely expensive delegate from the Democratic primary contests in Virginia and North Carolina.

The Bloomberg campaign reportedly spent $18.4 million on ads in the two states in the lead-up to Super Tuesday voting and yet is slated to walk away with next to nothing of political value.

According to an ad spending analysis by NBC News, Bloomberg dropped $5.6 million in Virginia and $12.8 million in North Carolina. But at the time of this story's publication, the billionaire candidate had earned only 10% of the vote in Virginia and 14% of the vote in North Carolina — amounting to one delegate from the latter.

Former Vice President Joe Biden, on the other hand, won decisive victories in both states despite spending just $449,000 on advertising — a drop in the bucket compared to Bloomberg's expenditures. Biden is projected to walk away with 108 delegates between the two states.

The statistics will likely get worse for Bloomberg

Though Bloomberg will likely pick up a handful of delegates for his efforts Tuesday night in delegate-rich states such as Texas and Colorado, it will not balance with the amount of money his campaign spent in those states.

In Super Tuesday states alone, the Bloomberg campaign reportedly spent more than $234 million on advertising, which is more than 10 times the amount that any of his opponents spent. In total, the campaign has spent over half a billion dollars on ads.

After disappointing results continued to roll in Tuesday night, news broke that Bloomberg would reassess whether to stay in the race.

(H/T: Newsweek)