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Why One Billionaire Democratic Primary Contender Is Asking Normal People For Money, And The Other Isn’t

Hayden Daniel Deputy & Opinion Editor
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President Donald Trump isn’t the only billionaire running for the presidency this election cycle. Despite the growth of anti-billionaire rhetoric in the 2020 Democratic primary from candidates such as Independent Vermont Sen. Bernie Sanders and Democratic Massachusetts Sen. Elizabeth Warren, Tom Steyer and Michael Bloomberg have entered the race to try to appeal to those Democrats who believe that banning large drink sizes, implementing stop-and-frisk, and reigniting the war on coal are all moderate Democratic proposals.

Yet, despite their fabulous wealth, Bloomberg is currently the 14th richest person in the world while Steyer only possesses the comparatively modest fortune of $1.6 billion, and both candidates have a complicated relationship with campaign donations. Steyer has resorted to asking for small donations from the American middle class, who he has assured will not have to subsidize billionaires if he is elected president, and Bloomberg has sworn off fundraising as well as campaigning in early primary states, calling into question his commitment to creating a grassroots foundation for his campaign.