According to a report done by the New York Times, former Mayor of New York Michael Bloomberg has spent $15 million dollars on political ads for former Vice President Joe Biden’s campaign in Texas and Ohio. Yahoo Finance’s Rick Newman joins The Final Round to discuss the details.

Video Transcript

SEANA SMITH: Well, speaking of next week and the election, let's turn to the election, because we are exactly one week away-- November 3 just seven days from right now. And as we really just wrap up this 2020 election season, former New York City Mayor Michael Bloomberg, he is putting more money to work. Right now, there's a report out that he's spending $15 million on TV ads in support of Joe Biden in Texas and Ohio. And, Rick, I know you're taking a look into this story, and it's interesting because it's a shift, really, from what we've seen Michael Bloomberg do in the past.

Because we know that he's been focused on Florida. This is something he's pledged to spend $100 million there supporting Biden in the state of Florida. But now he has a reason to believe, I guess, that Biden has a chance to take Ohio and a chance to take Texas, two states that Trump won pretty handily back in 2016.

RICK NEWMAN: Yes, and even if Biden does not win those states, if he forces Trump to play defense in those states during the last week of the campaign, that could divert Trump campaign resources, including money and people that they really need in the other states. So they're trying to expand the map for Biden a little bit. I mean, Texas has not voted for a Democratic president in a long time. It has been a reliably red state. But it is turning blue with more Hispanic voters there, people moving from places like California on the West Coast.

And at some point, Democrats think they could turn that state blue. If Biden can win Texas in 2020, that almost certainly means he's going to win the election by virtue of the electoral votes in Texas. But it would just indicate that Biden has a sweep under way, because Texas is hard. So even if Bloomberg is not trying to help Biden win in Texas, he's trying to get Trump to spend more money there so maybe he doesn't spend as much money in someplace like Michigan or Pennsylvania or North Carolina, which we know are likely to be the tipping point states. So Mike Bloomberg making his presence felt in the last week.