Former Vice President Joe Biden’s heavy reliance on high-dollar fundraisers with billionaire real estate tycoons, insurance CEOs, and natural gas executives did not appear to pay off in the third quarter of 2019 as Biden’s campaign Thursday night announced he raised $15.2 million during that period, trailing by over $10 million the grassroots haul posted by rival White House hopeful Sen. Bernie Sanders.
Biden’s total represents a nearly $7 million decline from the previous quarter, a drop-off that comes as the former vice president has seen his polling advantage erode nationally and in several key primary states. According to the Biden campaign, the average donation to the former vice president over the past three months was $44, a sharp contrast with Sanders’s $18 average.
“Imagine spending all of your time clinking glasses with billionaire donors, reassuring them that ‘nothing needs to change,’ and STILL getting outraised by a small-donor-only socialist.”
Sen. Elizabeth Warren (D-Mass.), who has gained on and surpassed Biden in recent polls, announced Friday that she raised $24.6 million in the third quarter.
Biden first announced his totals during a big-money fundraiser Thursday in Palo Alto, California, where tickets sold for $1,500 and $2,800, the latter being the maximum amount an individual can donate to a presidential campaign.
The former vice president told his rich supporters that the United States doesn’t “need some radical, radical socialist kind of answer” to inequality, an apparent shot at Sanders, who identifies as a democratic socialist.
“You’ve just got to make capitalism work like it’s supposed to work. We’ve got to save capitalism from this guy,” Biden said, referring to President Donald Trump.
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