Former Vice President Joe Biden relies heavily on high-dollar fundraisers and big-money donations to campaign for 2020 U.S. President. This third quarter, however, his billionaire real estate tycoons, insurance CEOs, and natural gas executives did not meet his quota leaving Biden far behind Sen. Bernie Sanders and Pete Buttigieg.
These fundraising totals often represent how their campaigns are preforming and ranking in polls. He started the campaign trail as the Democratic presidential primary leader, but his advantage has definitely fallen short as his rivals gain support.
Several Democratic hopefuls released their third-quarter totals earlier this week leaving Sanders at the top with $25.3 million, Buttigieg next at $19.1 million, Biden next at $15.2 million, and Senator Kamala Harris at $11.6 million. The rest, like Senator Elizabeth Warren have not yet released their totals.
“We haven’t raised what a lot of people have — we got started way later than everybody else — but we’ve raised, this last quarter, $15 million, in the middle of summer,” Biden says at an evening fundraising event on Thursday. “You’ve got to share in the benefits. That’s been broken. You don’t need some radical, radical socialist kind of answer to any of this — you’ve just got to make capitalism work like it’s supposed to work. We’ve got to save capitalism from this guy.”
Summer is indeed a challenging time to raise money for any candidate and other news has taken precedent recently including Trump’s impeachment scandal.