Billionaire Michael Bloomberg suspends campaign, endorses Joe Biden

US media tycoon Michael Bloomberg said on Wednesday he was quitting the Democratic primary race and instead endorsing frontrunner Joe Biden for the White House after being snubbed by voters on Super Tuesday.

"Three months ago, I entered the race for president to defeat Donald Trump. Today, I am leaving the race for the same reason: to defeat Donald Trump -- because it is clear to me that staying in would make achieving that goal more difficult," he said in a statement.

The billionaire former mayor of New York spent hundreds of millions of dollars on his presidential run, but failed to win any of the 14 states on offer on Super Tuesday -- the most important day in the Democratic primary season.