(Bloomberg) -- Michael Bloomberg said Sunday he would spend $100 million in Florida to help Joe Biden defeat President Donald Trump in the crucial battleground, which would allow Democrats to divert money to Pennsylvania and other must-win states.The money will be spent on voter-turnout efforts, and communicating with Hispanic voters will be a key part of that strategy, a Bloomberg spokesperson said.

Bloomberg is the founder and majority owner of Bloomberg LP, the parent company of Bloomberg News.Bloomberg, who endorsed Biden after ending his campaign for the Democratic presidential nomination in March, is making the pledge as the Cook Political Report on Thursday moved the state and its 29 Electoral College votes from “lean Democrat” to “toss up.”

Biden holds a slim, 1.2 percentage-point advantage over Trump in Florida, according to RealClearPolitics average of recent polls.Since dropping out of the race, Bloomberg has given $18 million in leftover campaign funds to the Democratic National Committee and transferred 13 of his campaign office leases to state parties. He’s also made other donations to help Democrats with voter-registration and anti-voter-suppression campaigns.“Mike Bloomberg is committed to helping defeat Trump, and that is going to happen in the battleground states,” Kevin Sheekey, senior Bloomberg adviser, said in a statement.

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