Billionaire Mike Bloomberg, who previously ran as a Democratic candidate for president before dropping out in March, has announced that he will spend up to $100 million to help Joe Biden win Florida over President Donald Trump.

Florida is a crucial state in the electoral college, holding 29 electoral votes. It is considered a major “battleground state,” meaning it has a near-even split in supporters for each candidate. A recent Marist poll showed that Trump and Biden are neck and neck in Florida, each at 48%. Floridians are expected to start mailing in ballots at the end of this month, the need for each candidate to mobilize their voters is higher than ever.

Bloomberg intends to focus on increasing support for Biden in the Latino/Hispanic community. Biden has struggled with Latinos in recent polls. Twenty-seven percent of Floridians are Hispanic, so their votes will be crucial in Biden’s attempts to win the state.

By having Bloomberg’s financial assistance in Florida, Biden is able to focus his funding on other key states for the Democratic win, like Pennsylvania, a battleground state with 20 electoral votes. It also is a huge disadvantage to the Trump campaign, as this means they will need to focus on Florida much more than originally planned.

Bloomberg released s statement noting that “battleground states will decide this election.” 

Currently there are 14 widely accepted battleground states with a total of 212 electoral votes (out of a total 538 electoral college votes). A candidate needs to reach 270 electoral votes to win the election.