Bloomberg Is Finally Ready to Open His Wallet for Biden

The billionaire is committing $100 million to help in Florida—roughly 10 percent of what he spent on his own campaign.

Greg Lovett/ZUMA

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.

Billionaire Michael Bloomberg, who pledged to spend big in order to help Democrats beat Donald Trump this November, is committing $100 million to support Joe Biden in the critical battleground state of Florida, where the former vice president is struggling to gain traction with the state’s Latino voters. 

The announcement on Sunday comes on the heels of Trump’s promise to spend “whatever it takes” of his own money after his campaign reportedly squandered its substantial cash advantage against Biden. (As my colleague Russ Choma wrote, it’s unclear if Trump even has enough cash on hand to make a real dent in the race.) Polls in Florida show that Biden’s lead in the Sunshine State has shrunk to a virtual tie in recent weeks. A senior adviser to Bloomberg said that the influx of cash in a notoriously expensive state for TV ads will free up Biden to spend campaign funds in other key states like Pennsylvania, where polls have similarly tightened.

Bloomberg’s commitment will come as a relief to Democrats, some of whom have wondered when the billionaire would be prepared to finally fulfill his promises to use his fortune to defeat Trump. But it also doesn’t appear to have come easily. The New York Times reported last week that Biden groups made multiple overtures to convince the billionaire to open his wallet to help in Florida, but Bloomberg aides largely resisted because the billionaire just wasn’t ready yet.

And while the $100 million marks a significant commitment, it’s still only 10 percent of what Bloomberg spent on his own presidential ambitions and 10 percent of the $1 billion he signaled he’d be willing to spend in order defeat Trump back in January, when he was still running for president and attempting to demonstrate unity with his Democratic rivals.

Of course, there’s still time to spend more, but with just 50 days to go till November 3, it’s hard to imagine Bloomberg suddenly pouring in an extra $900 million when it took him this long to commit to a fraction of that. 

Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate