With Mayor Pete out, the ultra-wealthy are lining up to host high-dollar fundraisers for Joe Biden
Strapped for cash and badly outspent by his rivals, Joe Biden barely had enough money to air television ads in critical Super Tuesday battlegrounds.Support for Biden from the Democratic establishment abruptly materialized Wednesday as influential donors lined up behind the former vice president following his romp through 10 of the 14 contests. The showing reshaped the primary into a two-person race between him and Vermont Sen. Bernie Sanders, providing clarity in what had been a crowded field.
"I don't have a date. I haven't talked to the Biden people," said Rafanelli. "I don't want to get out over my skis. But it's going to happen fast." "It has been a lot easier to fundraise for Joe Biden in the last 72 hours than it had been over the previous 72 days," said Alan Patricof, a Wall Street venture capitalist and longtime Biden supporter.
Biden was running on fumes headed into Super Tuesday, where he was drastically outspent across the country by billionaire former New York Mayor Mike Bloomberg. Billionaire Tom Steyer flooded the airwaves with pricey ads in South Carolina, where he tried to cut into Biden's support from black voters. And for much of the contest, he lagged in fundraising behind Sanders, Buttigieg and Massachusetts Sen. Elizabeth Warren.
Such rhetoric is precisely why some wealthy donors are uneasy about Sanders, who calls for political revolution, and are now eager to work with Biden.For some longtime supporters, the change in fortunes is cathartic after a monthslong stretch of tough headlines about poorly attended town halls and uneven debate performances that seemed to reinforce a perception of Biden as someone doomed to lose.
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