Big Money Makes a Big Comeback in Race for Democratic Nomination
- Billionaires’ money beats fundraising by all other campaigns
- Super-PACs gearing up for 2020 get seven-figure donations
Former U.S. Vice President Joe Biden
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Joe Biden, Bernie Sanders and Elizabeth Warren and Pete Buttigieg have all touted the depth and breadth of their grassroots support and modest size of their average donation, but contributors writing big checks dominated fourth-quarter financial reports.
The shift comes as the Democratic National Committee on Friday adopted new rules for earning a spot in its debates, dropping a requirement that candidates develop a broad donor base. Now, candidates need only to reach 10% in four approved polls.