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SourceMoney in politics has been a punching bag for candidates vying for the 2020 Democratic presidential nomination, but two billionaires are making their mark on the White House race in different ways.
Michael Bloomberg, 77, and Tom Steyer, 62, both late entrants into the contest, are proving to be political forces in a primary cycle where presidential hopefuls have come under extreme pressure to shun corporate political action committee cash and stigma being attached to exclusive, high-dollar fundraisers. Bloomberg is entirely self-funding his White House bid, while Steyer is lining his campaign coffers with his own money.
“Once again, it’s looking like there will be more billionaires than Black people on the debate stage. And as it currently stands, there will be no candidates of color on stage. Not a single one,” Democratic rival Cory Booker emailed supporters in response.