How Bloomberg's philanthropy may have secured his political influence

Billionaire and former New York City Mayor Michael Bloomberg is gaining some traction in the Democratic primary, despite his late entry. Part of the reason he's been able to do that, The New York Times reports after reviewing years of campaign and nonprofit tax filings, may be because he spent years building influence by donating hefty to funds to certain causes.Per the Times, some — though not all — of Bloomberg's philanthropic endeavors appear to have secured the allegiance of powe