Michael Bloomberg just might be taking his media empire public. And the man helping him to do so is none other than Bill Ackman, the NY Post reports.
This news comes as the billionaire former mayor of New York continues to spend a fortune out of his fortune in an effort to throw Donald Trump out of the White House in this year’s elections.
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According to Politico, Michael Bloomberg’s investment of $100 million in an anti-Trump campaign in the State of Florida alone is paying off. Florida is considered a swing state and a must win for Trump.
In 20016 Hilary Clinton came close to carrying the state and everyone still remembers what happened there in 2000.
“It’s forced the Trump campaign to retrench in Florida. You can see it in the spending habits, in television and digital. They’re investing more at the expense of places they need to win,” Steve Schale, who leads the pro-Biden Unite the Country super PAC, told Politico.
“Basically, Trump has now been committed to the equivalent of land war in Asia by having to spend so much of his money in Florida, a state he has to win to get to 270 Electoral College votes,” Schale said. “And as a result, he doesn’t have the resources to compete everywhere he would like.”
So Bloomberg may have wasted $100 million on his own failed bid for the Presidency earlier this year, and more than that just to get elected mayor of New York three times, but he seems to be getting a return on his investment in Florida.
$2.4 million of that money is being used to target Latino voters. The money is for Spanish and English language digital ads focused promoting support for Joe Biden in the Hispanic community across the state of Florida, Bloomberg’s website says.
“Voter turnout among Latinos in Florida could mean the difference for a Biden-Harris win in Florida,” said Mike Bloomberg.
“I’m supporting Latino Victory Fund’s efforts to mobilize Latino voters online, and I hope voters across Florida make their voices heard and vote for Joe Biden and Kamala Harris.” This is part of Mike Bloomberg’s commitment to spend $100 million in Florida to support Vice President Joe Biden in defeating Donald Trump through advertising and a strong ground game to get out the vote in communities across Florida.
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Dear ex-New Yorkers living in Florida,
Don’t vote for the ex-New Yorker living in Florida. https://t.co/TKgSrvsxgu
— Mike Bloomberg (@MikeBloomberg) October 20, 2020
Michael Bloomberg is also a supporter of gun control initiatives. To that end he has spent $4.5 million on ads in six battleground states through his own gun safety organization Everytown for Gun Safety.
The advertising is not limited to affecting the outcome of the Presidential campaign, though. It is also aimed at flipping state houses in states like Arizona, Iowa, Minnesota, North Carolina and Texas.
As for Bloomberg News going public, Bloomberg LP would sell minority stake to Bill Ackman’s blank-check company Pershing Square Tontine Holdings for $5 billion, reports the Post.
Stock in Bloomberg LP would then be traded in place of Pershing Square Tontine Holdings which was only created for just such a purpose.
