Bloomberg sends GOP begging donors for more cash: 'Oh, shoot, we have to find another $1 billion'

While Michael Bloomberg doesn't appear to have grabbed the Democratic nomination, the Republican Party is already concerned about his impact on the race.

The Wall Street Journal reported Tuesday that the GOP is going back to top donors begging for more cash out of fear.

"The president’s allies have reached out to supporters such as casino magnate Sheldon Adelson, who discussed Mr. Bloomberg’s spending during a dinner last week with Vice President Mike Pence, according to people familiar with the matter," the Journal wrote. "Other billionaires Trump allies plan to target include Oracle co-founder Larry Ellison and Blackstone Group Inc. CEO Stephen Schwarzman."

“The Bloomberg threat is something you have to be ready for,” said a fundraiser who knows about the effort told the Journal. “Better now than in August, when you have to say, ‘Oh, shoot, we have to find another $1 billion.’ You want enough time to actually spend it right.”

Bloomberg has spent over $500 million on television ads, most of which bash President Donald Trump and his failures.

The former New York mayor's cash isn't just buying ads, however, there are already "2,400 staffers, many in battleground states that will decide the outcome in November."

Bloomberg hasn't ruled out dropping $1 billion on his 2020 efforts.

Read the full Wall Street Journal report.