Mike Bloomberg suffers large losses after spending over $ 100 million in Florida, Ohio and Texas

Mike Bloomberg

Johannes Eisele | AFP | Getty Images

Billionaire and former presidential candidate Mike Bloomberg’s investment of more than $ 100 million in three key states stalled when President Donald Trump apparently conquered all of them.

In the months after Bloomberg dropped out of Democratic Elementary School, the New York business leader huddled with advisors to plan a spending flash to help Democratic candidate Joe Biden overtake Trump. Initially, it was decided that most of the $ 100 million spending would go to the key state of Florida. He would later add Ohio and Texas to the mix.

NBC News predicts Trump will defeat Biden in these states. Bloomberg’s team believed that if they spent a lot in Florida, Trump and his allies would be forced to move resources from other regions of the country to the major battlefield state.

“Our goal was to get Trump to fight for a state he took for granted and to draw resources from blue-wall states so that Joe Biden can become more competitive in those states,” said Kevin Sheekey, advisor by Bloomberg. “So that Trump fights like hell in Florida.”

Even so, the amount of losses for Bloomberg in 2020 is a huge blow, considering he’s known as one of the Democratic Party’s leading kingmakers. He has a net worth of more than $ 54 billion and spent $ 1 billion on his first term as president, which ultimately won only a few dozen delegates, including some from the American Samoa caucus

The respect Bloomberg had within the party was evident ahead of Election Day when it plowed millions into the Sunshine State.

Democratic leaders were privately more confident that they would defeat Trump there, based in part on Bloomberg flooding the airwaves with advertisements, according to those familiar with the matter who refused to be named. They believed Bloomberg’s messaging machine was enough to push Biden over the edge and turn Florida back to the Democrats after losing there in 2016.

There was even discussion that some Democratic leaders would try to convince Biden to offer Bloomberg a cabinet post, these people added. These efforts seem to have stopped moving and it’s unclear whether either Biden or Bloomberg would even sustain the idea. These people declined to be named as the discussions and plans were private.

Beyond the presidential election, the outcome of Bloomberg’s decisions in 2020 could have an impact on its participation in the upcoming New York mayor’s race.

At the end of the presidential election, Bloomberg wanted to move ahead with planning how much money could be spent on this race. Mayor Bill de Blasio’s term ends on the first day of 2022. The president’s race is still ongoing and it’s unclear what Bloomberg, a former New York mayor, is now planning to compete in a city he once ruled.

In particular, Bloomberg was not deeply involved in any critical races by the US Senate. Democrats seem on the right track not to get a majority in the chamber.

The breakdown of Bloomberg’s spending in the later stages of the presidential election goes beyond investing in ad purchases.

Advertising Analytics data shows that Bloomberg’s super-PAC Independence USA only spent more than $ 36 million in Florida between September and November. The PAC also spent $ 6.9 million on advertisements in Texas and $ 3.3 million in Ohio.

This data does not include the ads Bloomberg funded through pro-biden super PACs like Priorities USA Action.

Bloomberg’s resources also flowed into a number of companies, some of which had direct connections with him.

Hawkfish, the data firm founded by Bloomberg, received more than $ 3.2 million in the 2020 election cycle, according to the non-partisan Center for Responsive Politics. The company was also used during Bloomberg’s presidential campaign.

The data company has partnered with a pro-biden super PAC, Unite the Country, to track the poll in Florida. The two organizations regularly briefed reporters on the state of the Sunshine State and discussed a theory of a possible “red mirage”.

Another group that saw a payday from Bloomberg’s PAC is Schoen Cooperman Research, a firm founded by former New York Mayor’s longtime pollster Doug Schoen.

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