How Mike Bloomberg can help Joe Biden
Rick Newman
Senior Columnist
Yahoo Finance
Michael Bloomberg came and went quickly in the 2020 presidential campaign. He entered the race last November, spent $1 billion on staff and ads, rose briefly in the polls, then quit on March 4, after Joe Biden’s unexpected surge. Bloomberg has been mostly quiet since.
But the publishing titan and former New York City mayor could still play a major role in the 2020 election, if he chooses to spend some of his $60 billion fortune helping Biden, a longtime friend. “The one advantage Trump does have over Biden right now is economic,” Bradley Tusk, a longtime Bloomberg adviser, says in the latest episode of the Yahoo Finance Electionomics podcast. “If Mike Bloomberg put in $100 million or $300 million, would that be welcome? I’m sure it would be.”
Trump has outraised Biden by about $100 million so far, in part because he has Republican donors all to himself. Democratic donors, by contrast, were splitting their money among several major candidates until March. Biden has been catching up, however, and might be able to match Trump in funding by the home stretch in the fall.
Bloomberg endorsed Biden when he dropped out, and said he will do whatever he can to defeat President Trump in November. But his money might help Biden more if directed at races other than the presidential one. “Mike's wealth could really make a difference in what kind of Congress Biden would have to work with,” Tusk says. “If I were Biden and I was asking Mike for help, I'd say focus as much on the key Senatorial races and House races.”
https://finance.yahoo.com/news/how-mike-bloomberg-can-help-joe-biden-164223225.html
