Bloomberg drops $10 million donation in bid to help House Democrats

Billionaire businessman Mike Bloomberg donated $10 million to the Democrats' House Majority PAC in July as the party seeks to wrest control of the chamber from Republicans.

The PAC is the major funding group supporting Democrats in the House, both those defending their seats and candidates trying to unseat Republicans.

"House Majority PAC is deeply grateful for the longstanding and continued support from Mayor Mike Bloomberg in our efforts to take back the House," House Majority PAC President Mike Smith said in a statement to NBC News. "With American freedoms at stake, Mayor Bloomberg’s dedication to Democratic ideals will fuel our work to promote an agenda for working families across America and elect Speaker Hakeem Jeffries next year."

The big donation comes after Bloomberg threw $20 million behind President Biden in June, who was then still running for re-election. Those funds are now being used to bolster Vice President Kamala Harris.

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The billionaire's renewed support for Democrats comes years after his ill-fated attempt to run for president in 2020. Bloomberg shelled out a staggering $1 billion of his own money on his Democratic nomination bid.

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After he dropped out of the race, he transferred roughly $18 million to the Democratic Party. And he separately announced the funding of a $100 million independent ad campaign to boost Biden's White House bid.

Bloomberg, 82, is the 15th wealthiest person in the world, with approximately $106 billion in assets, according to Forbes Magazine.

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As the news of the Bloomberg contributions was going viral, so was word that conservative billionaire donor Timothy Mellon gave a mind-boggling $50 million contribution in May to a leading super PAC supporting former President Trump's White House bid.

Donations for Democrats have surged in the weeks since Biden dropped out of the race and endorsed Harris. Enthusiasm for the election has also surged among Democrats, evening out what had been a race favoring Trump.

Fox News' Paul Steinhauser contributed to this report