News / Politics

Billionaire Mike Bloomberg backs Joe Biden in Florida

Monday, 14 September 2020 1:19 PM [ Last Update: Monday, 14 September 2020 1:23 PM ]

This photo taken on March 4, 2020 shows former Democratic presidential candidate and former New York City mayor Mike Bloomberg speaking to supporters in New York City. (Photo by AFP)

Former Democratic presidential candidate and ex-New York City mayor billionaire Michael Bloomberg has decided to help Democrat Joe Biden's quest for the White House against President Donald Trump.

Media reported on Suday that Bloomberg aimed to inject at least $100mn to to support Biden’s campaign in Florida.

"Mike Bloomberg is committed to helping defeat Trump, and that is going to happen in the battleground states," Bloomberg adviser Kevin Sheekey was quoted by Reuters as saying.

Sheekey added, Bloomberg's spending "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."

Media reports cited people familiar with the matter noting that they anticipate Bloomberg alone to to spend in excess of $250mn to support Biden in the race against Trump.

Florida is expected to be the most expensive state in which to campaign for votes.

Victory in this state will be the biggest prize among competitive states on Election Day, offering 29 of the controversial 270 Electoral College votes required to win.

Trump, who trails Biden in national opinion polls, told reporters last week that he would spend money from his personal wealth to gain re-election.

Trump says ready to put personal money into campaign if necessary

US President Donald Trump says he would spend his own money to finance his re-election campaign if it were necessary.

Media reports revealed the Trump campaign was grappling with a potential cash crunch for the November 3 elections.

Since 2019, Trump’s campaign has spent some $800mn on the election campaign, nearly twice the amount spent by the Democrats for Biden.

Meanwhile, Bloomberg is not the only one injecting money into the election.

America First Action Inc, a group that supports the Republican candidate Trump, said last week that it would spend $12.7mn on new ads in Florida targeting Biden.

Unite the Country Inc, a similar group backing Biden, said last week that it is giving $1.4mn to fund targeted digital advertising aimed at gaining the Latino votes in South Florida.

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