Billionaire Bloomberg just staked $100 million on a Biden win in Florida

Billionaire Bloomberg just staked $100 million on a Biden win in Florida

Mike Bloomberg standing at a podium

Flickr / Gage Skidmore

Joe Biden’s chances of winning the election just shot up by $100 million. Former New York City mayor Mike Bloomberg is investing this amount of his own money to help Biden win in Florida.

Trump needs Florida to win

Donald Trump walking outside

Flickr / The White House

Florida is set to be one of the biggest political battlegrounds in this election. A victory in Florida could secure Trump the 270 Electoral College votes he needs to win the election. Billionaire Bloomberg’s massive injection of cash at this late stage is a game-changer.

While recent polls show Biden to be ahead of Trump overall by 7.5 percentage points, he leads by the most narrow margin in Florida β€” a mere 1.2 percentage points. This has dipped from a July lead of 8.4, making Florida of critical importance.

One nominee to another

Biden pointing

Flickr / Phil Roeder

Bloomberg ran as a Democratic presidential candidate for 2020. After investing $1 billion into his campaign, he dropped out of the race in March and swiftly endorsed Biden. By focusing his efforts on helping Biden win in Florida, he frees up the Democratic party to concentrate on other states’ campaign funding.

Kevin Sheekey is Bloomberg’s senior advisor. He stated:

Mike’s substantial investment in Florida, in addition to his contributions to the DNC and voter protection and restoration efforts this cycle, 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.

Flipping Florida

The 2020 election may experience a surge of voting with 4 million 17 year olds turning 18 prior to the election

Screenshot / Time

Florida could make or break this election. A curveball state, neither the Republican party nor the Democrats show any significant lead in the polls. Florida is traditionally Republican, though not by a confident margin. The polls show Biden doing better than Hilary Clinton did in 2016, but he lacks support among Hispanic voters.

The Republican party has been campaigning hard among Latino voters, but the Biden campaign will need to focus their efforts on this community to flip the state blue.

Trump’s confidence is beginning to crack

Pro-Biden yard sign in Florida

Screenshot / Twitter

The Trump campaign is publicly confident that they will win Florida in November. Trump’s actions tell a different story, however. The President has already moved his legal residence to Florida. Trump has many properties in the Sunshine State, including his favorite haunt, the Mar-o-Lago golf resort.

The billionaire’s announcement would be investing $100 million of his fortune into securing a Biden victory came on Saturday. Shortly afterward, Trump began tweeting about “Mini Mike” (Bloomberg), suggesting the news had rattled him.

Trump is losing his retirees base

Three elderly people taking a walk

Canva

Republican retirees are beginning to swap their Trump signs for “BIDEN 2020.” In 2016, it was the over-65 demographic that voted overwhelmingly for Trump. Four years later, many former supporters are disenfranchised by the President’s handling of the coronavirus pandemic.

Trump’s decision to prioritize the economy over health and safety has been literally deadly for many of Florida’s senior residents. The pandemic has exposed both the health vulnerabilities of this demographic and their worsening retirement prospects under Donald Trump.

The curveball state

Al Gore with a look of concern

Flickr / JD Lasica

Florida is famously difficult to predict. Twenty years ago, the infamous 537 votes in Florida lost Al Gore the election and sent George W. Bush to the White House.

Early voting in Florida begins on the 24th of September. Bloomberg’s spending plan is predicted to be mainly on television and online advertising. Republicans are currently spending around $8 million more than Democrats on digital advertising.

Democrat’s ‘nightmare scenario’

Close up photo of a mailbox

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All eyes will be on Florida this November. Unlike many other states, Florida will only report its early votes and absentee ballots on election nights. One possible election scenario is that Trump should be in the lead until the (mostly Democrat) mail-in votes are counted, pushing Biden to a victory.

Some Democrats fear a “nightmare scenario” in which Trump cries “fraud” and argues against counting the postal votes.

‘If the President doesn’t win in Florida, he doesn’t win’

Side by side photo of Trump and Biden

Flickr / Gage Skidmore

Both Biden and Trump need Florida. Al Cardenas is the former chair of the Republican party in Florida. He put it best to NBC News:

“Frankly . . . if the President doesn’t win Florida, he doesn’t win.”

Let’s hope Bloomberg puts his $100 million where his mouth is.

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