Michael Bloomberg’s Aid of $100 Million to Biden Campaign for Florida

Michael or Mike Bloomberg has decided to donate $100 million to help Democratic presidential candidate, Joe Biden, who is fighting against the Republican President, Donald Trump in the United States (US) November election. According to the Washington Post on Sunday, September 13, 2020, the billionaire made his move last week after Trump was reportedly planning to spend as much as $100 million, if necessary from his own pocket, for the final weeks of the campaign.

Mike’s money aimed at the final election spending on Biden’s campaign in Florida, one of the most swing states for the US presidential election, which is a crucial state to decide the outcome of the November election. Florida will conduct voting by mail, which will occur on September 24.

Keeping his promise to help Biden and the Democratic Party, Bloomberg advisers said that the billionaire was doing what he could to defeat Trump in the upcoming election. Meanwhile, various outside agencies such as America First Action Inc. announced last week to donate $12.7 million on new ads in Florida for Trump’s campaign.

Bloomberg’s Help for Florida and Others

Former New York City (NYC) mayor, Bloomberg was one of the Democratic candidates who bid for the party’s nomination race but dropped out of the race in March after spending $1 billion of his own money for his campaign. Since the dropout from the race, democrats were worried about Bloomberg’s promise to the party.

Analysts consider that the billionaire’s decision is a crucial help for the former vice-president at the time when both the candidates have limited financial sources due to several months-long campaigns. Besides that, Florida is considered to be one of the most expensive states for the election campaigns, which occupies 29 electoral votes, representing a crucial number for the election. To win an absolute majority, a candidate requires at least 270 votes out of the total electoral votes of 538.

Bloomberg’s adviser Kevin Sheekey stated, “Mike Bloomberg is committed to helping defeat Trump, and that is going to happen in the battleground states,” adding that it “will mean Democrats and the Biden campaign can invest even more heavily in other key states like Pennsylvania, which will be critical to a Biden victory.”

Financial Situations for Both Candidates

Bloomberg’s help could forge a strong position for the former vice-president and strengthen his financial advantage against Trump. Excluding the outside funding, the Trump campaign reported having $300 million in cash on hand, which was a slim score compared with Biden’s $294 million before the August fundraising tally.

Last week, Trump’s re-election campaign and the Republican National Committee revealed that they raised a combined $210 million in August, as compared to Biden’s record funding of $364.5 million for the month that included both party’s televised conventions. With the development, Trump earlier announced that he could use money from his own real-estate and brand-licensing fortune for the upcoming election. Following the news, “I thought Mini Mike was through with Democrat politics,” Trump said on Twitter on Sunday, “Save NYC instead.”

Reflecting the Bloomberg’s funding, his advisers stressed, “This will force Republicans and the Trump campaign to shift even more of their limited resources to Florida.” According to a market data firm Advertising Analytics LLC, both the candidates have already booked to spend $58 million in advertisements to run between last Tuesday and the Nov. 3 election.