Mike Bloomberg alone could provide more money for the Democratic presidential nominee this year than all funding combined in 2016.
President Trump’s reelection campaign has outraised every Democrat in the race, with a huge haul of $46 million in the last quarter of 2019. His campaign manager has Tweet-bragged about the “incredible fundraising numbers” as Democrats worry they’ll face a sizable funding disadvantage.
Fellow billionaire Tom Steyer has already spent more than $116 million on ads and other activities to support his own presidential campaign, much of it anti-Trump. Steyer isn’t as rich as Bloomberg and probably can’t match his $1 billion, but he’s an ardent anti-Trumper who’s been a top Democratic donor in recent years. Assuming he’s not the nominee this time around, he could add millions more to Democratic coffers once the general election arrives.
Trump’s money goes further at the moment, since he has minimal opposition in the Republican primaries and can use his funding to build out his general-election campaign. The Democrats, by contrast, need most of their money to campaign against each other. But the Democrats will have a single nominee at some point, and generous funding now suggests there’s plenty more where that came from.
Hillary Clinton sharply outspent Trump in 2016, with $770 million spent on her campaign in total, compared with $451 million for Trump. Clinton lost, obviously. Her campaign underplayed key swing states such as Wisconsin, while Trump’s campaign was much more adept in the newer realm of online advertising.
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