The 2020 presidential election just got a bit more competitive, which implies that President Donald Trump might have to burn a hole in his pocket.
For months, many were wondering — will Michael Bloomberg keep his promise to Joe Biden and the Democrats?
When Bloomberg dropped out of the 2020 Democratic presidential primary; he pledged to do all in his power to defeat Trump.
According to Forbes, the businessman is ranked as the sixteenth richest person in the world, with an estimated net worth of $48 billion, and he has given away $8.2 billion to various charities and causes.
On Sunday, Bloomberg announced that he would open his checkbook to make sure Florida votes blue.
The former mayor of New York City plans to pour in $100 million in support of Biden in the Sunshine State.
Reports claim Bloomberg could still spend even more money in other states to get Biden to the White House.
An angry Trump was quick to slam the billionaire in a tweet where he said: “I thought Mini Mike was through with Democrat politics after spending almost 2 Billion Dollars, and then giving the worst and most inept Debate Performance in the history of Presidential Politics. Pocahontas ended his political career on first question, OVER! Save NYC instead.”
The president, who is having a tough year because of the coronavirus, bad poll numbers, and multiple scandals, also saw his net worth take a dip in 2020.
Trump, who lost $600 million since last September, now has a net worth of $2.5 billion. Trump also shared a tweet questioning Bloomberg’s massive fortune.
He wrote: “In the highly competitive world of high tech, how come nobody has ever challenged Mini Mike Bloomberg and his very average, & supposedly outdated, ‘stuff’ that he sells to so many? Did he use his position as Mayor of New York to create what is now a monopoly? Just askin’?”
Trump has also denied that his campaign was cash-strapped and plans to spend his own money if that is needed.
Trump explained: “If I have to, I would. But we’re doing very well. We needed to spend more money upfront because of the pandemic and the statements being made by Democrats, which were, again, disinformation.”
He went on to say: “But if we needed any more, I’d put it up personally like I did in the primaries last time. In the 2016 primaries, I put up a lot of money. If I have to, I’ll do it here. But we don’t have to because we have double and maybe even triple what we had a number of years ago.”
The race for president is leaning towards Biden at the moment, but experts are still waiting for the four debates in the upcoming weeks to have a clear sense of where things are headed.