Mike Bloomberg Blew $100 Million In Florida, Ohio and Texas

Mike Bloomberg Blew $100 Million In Florida, Ohio and Texas

Tyler Durden

Wed, 11/04/2020 – 21:00

While Trump may or may not remain POTUS following what can best be described as ‘malarkey’ in several states, billionaire Mike Bloomberg just blew $100 million trying to flip three states blue, following his exit from the 2020 presidential race.

According to CNBC, “In the months after Bloomberg dropping out of the Democratic primary, the New York business leader huddled with advisors to plot a spending blitz to help Democratic nominee Joe Biden overtake Trump. It was initially decided that most of a $100 million spend would go toward the pivotal state of Florida. Later he would add Ohio and Texas into the mix.

Trump won all three states soundly, however Bloomberg also sought to flip the Senate back to the Democrats, which would have allowed them – along with a potential president Biden – to actually roll back President Trump’s tax cuts, pack the Supreme Court, and carry out the rest of their legislative laundry list.

Bloomberg has a net worth north of $54 billion and spent $1 billion on his primary run for president, so tossing another $100 million onto that dumpster fire isn’t really going to move the needle.

Unfortunately for the billionaire news maven and his backers, the $100 million did virtually nothing.

The respect that Bloomberg had within the party was evident in the buildup to Election Day as he plowed millions into the Sunshine State.

Democratic leaders were privately becoming more convinced that they were going to defeat Trump there, in part on the basis that Bloomberg was flooding the airwaves with ads, according to people familiar with the matter who declined to be named. They believed that Bloomberg’s messaging machine was enough to push Biden over the edge and flip Florida back to the Democrats after losing there in 2016.

There were even discussions that some Democratic leaders were going to try to convince Biden to offer Bloomberg a Cabinet post, these people added. Those efforts appear to be no longer in motion and it’s unclear if either Biden or Bloomberg would even entertain the idea. These people declined to be named as the discussions and plans were made in private. –CNBC

According to data from Advertising Analytics, Bloomberg’s super PAC, Independence USA spent over $36 million in Florida between September and November, along with $6.9 million on ads in Texas and $3.3 million in Ohio. More went towards pro-Biden super PACs such as Priorities USA Action, Hawkfish – his data firm, and Schoel Cooperman Research – a firm founded by Bloomberg’s longtime pollster pal Doug Schoen.

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Author: Tyler Durden

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