Donors not sure Biden can outpace the new field of young Dem candidates
A handful of leading Democrat donors recently told former Vice President Joe Biden that they would not raise early-stage campaign funds for him if he were to run for president in 2020, according to a report.
According to CNBC, several donors declined Biden’s request to bundle campaign contributions due to their skepticism regarding whether the 76-year-old establishmentarian could survive a bruising Democrat primary.
Biden, who has yet to announce whether he will run, has reached out to leading financiers over the past week to see whether they will help him raise money for a presidential run. His pitch: He will need their assistance to compete against candidates, such as Beto O’Rourke and Bernie Sanders, who have raised millions of dollars over the first 24 hours of their campaigns, according to people familiar with the deliberations.Talk of Biden’s traction issue with big money donors comes as some deep-pocketed bundlers say they’re looking to support former Rep. Robert Francis “Beto” O’Rourke’s (D-TX) presidential bid.
[D]uring those calls, some high-profile donors told Biden that they will not commit to bundling for him, at least in the early stages of the primary, said the people, who declined to be named. The donors told Biden they’re not yet convinced he can overtake the younger, more diverse and progressive field, and that they are going to wait to see how he competes in the race, the people added.
Chicago financier Louis Susman, among former President Barack Obama’s largest campaign fundraisers, told the business outlet he is discussing with “family and friends” about supporting O’Rourke.