Counterintuitively, Bloomberg’s entering the race could serve to solidify donor support around Biden. gdebenedetti reports
Photo: Drew Angerer/Getty Images The calls started early on a Thursday evening last month, moments after the New York Times reported Michael Bloomberg was expected to jump into the 2020 race. On one end were a handful of Joe Biden’s top campaign aides and allies; on the other were some of his highest-priority current and prospective donors.
At the very least, Bloomberg’s entry has coincided with a good few weeks financially for the front-runner. On Tuesday night, Biden ducked away from his ongoing Iowa bus tour for a pair of fund-raising receptions in New York. At the first, a 70-person gathering hosted in part by big finance names like Thomas H. Lee, Alan Patricof, Charles Myers, and Vincent Mai at the home of art dealer Arne Glimcher, Biden stood under a Calder mobile as he spoke. The candidate was buoyant.
The party, more broadly, has been unnerved by the billionaire entrants scrambling the field. Tom Steyer and Bloomberg combined have plowed nearly half a billion dollars into Democratic politics in the past decade or so — money it now looks like they will use on themselves. Obama tried to calm everyone down, first reminding a few hundred leading donors and strategists at a conference in D.C.
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