Earlier this year, former New York Mayor Mike Bloomberg pledged to help Democrats defeat President Donald Trump. When he ended his presidential campaign back in March, he declared that he would do everything in his power to help them. He has decided to spend $100 million of his own fortune to help Joe Biden’s campaign in Florida. However, this came as a surprise to many Democrats who were wondering if he would stand by what he said. Finally, he is keeping his word as the election is only two months away.
Importance of Mike Bloomberg ‘s investment
Bloomberg’s investment in Florida is crucial, mainly because of its weightage in the electoral college. Previously, Trump transferred his residency from New York and made Florida his home state. However, this particular state plays a very important role in determining the result of the elections. If Biden is successful in securing the state’s 29 electoral votes, it will be next to impossible for Trump to win. Moreover, it has been decades since a Republican has won the presidency without winning Florida. Likewise, the competition between Biden and Trump is neck-to-neck in Florida. It will probably stay the same until election day.
Mike Bloomberg’s strategy
Reportedly, Florida has 10 major markets. But, they are quite expensive. That’s why campaigns often hesitate to make heavy investments in the state. With Bloomberg’s help, it is much easier from Biden to secure votes in Florida. Furthermore, Bloomberg’s technology apparatus will allow him to micro-target the niche population with laser like precision. The advertisements will only help in appealing to the audience, who in turn will cast their vote to Biden. This is the reason why Bloomberg’s investment is key. Mostly, investors prefer to call it smart money. Former Philadelphia Mayer Michael Nutter said,
Mike Bloomberg is an impact player. He’s looking across the field. He takes in the data. He looks at the evidence, does the analysis and then determines where to best have his impact to change the course of an election. That’s why he decided to invest so heavily in Florida.
President Trump’s chances
After Bloomberg’s announcement, Trump put out a strong reaction on Twitter. Later, when the journalists asked if he would be willing to put his own money in Florida, he said that he’d do it if he had to. Trump, who uses a shiny object strategy to woo his audience, will have to face serious competition from Bloomberg’s investment. Even if Trump wins the elections in Florida, he won’t win the general elections because the impact created by Bloomberg’s ads on other states will be massive.