Despite his claims that he is running a campaign “between Scranton and Park Avenue,” unlike President Donald Trump who only “thinks about the stock market,” Democratic presidential nominee Joe Biden has received millions of dollars from Wall Street donors since 2019.
According to CNBC’s Brian Schwartz, Biden raked in more than $74 million through “joint fundraising committees and outside super PACs” to back his 2020 run.
Donors to some of these external groups for Biden include executives such as Donald Sussman, James Simons, Jessica Livingston, Henry and Marsha Laufer, Michael Mortiz, Seth Klarman, and Joshua Bekenstein, who are leaders in notable companies such as Paloma Partners, Renaissance Technologies, Bain Capital, and more.
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In addition to donations to external groups, employees at “hedge funds, private equity, and other investment-type firms donated close to $20 million directly to Biden’s campaign.”
Despite Biden’s attempts to characterize his campaign as driven by the working class, he has maintained connections with some of the most prominent people in the New York financial district.
Biden’s transition team is co-chaired by Jeff Zients, the CEO of the investment firm Cranemere. Biden is reportedly considering Democratic Gov. Gina Raimondo of Rhode Island for secretary of the treasury — a choice bemoaned by the leftist base as a “subservience to Wall Street.”
Federal Election Commission filings also show that Former Goldman Sachs President Harvey Schwartz recently contributed $100,000 in donations to the “Biden Action Fund,” a joint committee that contributes to Biden’s presidential campaign and the Democratic National Committee platform.
While Trump has raised some money from Wall Street and others, Biden reportedly has access to over $330 million from fundraising efforts by joint committees and the Democratic National Committee, raising “more than eight times the $127,000 raised by the Trump campaign” from donors living on Park Avenue and “more than what Barack Obama received in his two presidential runs combined.”
“Biden’s campaign is on track to raise $1 billion in the six days until Election Day,” CNBC reports.
