Billionaire Mike Bloomberg stepped out of the presidential race after famously securing a record-low amount of support from Democrats. Since then the billionaire has helped funnel millions of dollars through his Independence USA super PAC in an effort to elect Democrat Joe Biden. Despite the fact Biden lost in key swing states like Florida Bloomberg claims his investments helped the Democrat win in other states.
In his own attempt to become president, Bloomberg spent a massive $1 billion and had nothing to show for it. Then from September until the end of the election, Bloomberg spent over $100 million to help Biden in swing states Florida, Texas, and Ohio. Not a great return on investment considering Biden lost in each of those states.
In a report from Fox Business:
“Our singular goal was electing Joe Biden,” senior Bloomberg adviser Howard Wolfson told Fox News. “We believe that Joe Biden is going to be the next president and we believe that we were successful in terms of our efforts to help him.”
“As we said from the start, we didn’t get into Florida because it was cheap, easy, or a must-win state. We got in to run a rear-guard action against Trump and to force him to defend his home state with his time, attention and resources,” Bloomberg senior adviser Kevin Sheekey explained.
In the 2018 midterms, Bloomberg’s efforts were a contributing factor in helping the Democrats regain control of the House of Representatives. Bloomberg aides highlight that 21 of the 24 House races Bloomberg weighed into in 2018 flipped to the Democrats.
Yet Wolfson told Fox News that,“given how close some of the House races turned out to be in Trump districts, Mike’s contribution was critical in holding the majority…I got to believe that if Mike had not done what he did, the results might have been worse.”
Bloomberg made another bad investment in Dems trying to retain control of the House. Republicans have been able to flip a number of seats, however, Democrats will ultimately still have control. Control of the Senate is still up for grabs and will most likely be determined by the results of two runoff elections in Georgia.