Sanders, Warren don’t have a single S&P 500 CEO donating to their campaigns
Sanders win would cause market to ‘take a turn for the worse’: Chief investment strategist
Bulltick Capital Markets chief investment strategist Kathryn Rooney Vera says the health care industry ‘will fall’ if Sen. Bernie Sanders, I-Vt., wins the 2020 presidential election.
Bernie Sanders and Elizabeth Warren have both centered their campaigns on taking on Wall Street and the wealthy while making sweeping economic reforms, and their donors reflect it: Not a single S&P 500 CEO has given money to either of the progressive senators’ campaigns.
Continue Reading Below
But their moderate rivals, including Pete Buttigieg, the former mayor of South Bend, Indiana; Minnesota Sen. Amy Klobuchar and former Vice President Joe Biden have all garnered donations from the Wall Street executives, according to Federal Election Committee data analyzed by MarketWatch.
SANDERS, BUTTIGIEG ARE WINNING THE 2020 CAMPAIGN FUNDRAISING RACE
Buttigieg received donations from seven CEOs, including Marriott International CEO Arne Sorenson, Allergan CEO Brent Saunders and Netflix CEO Reed Hastings, amounting to roughly $20,600. Most of the bosses maxed out at the Federal Election Committee’s $2,800 limit, although Hastings gave $5,600 (donors are allowed to shell out $2,800 for the primary election and $2,800 for the general election).
Candidates who don’t become their party’s nominee must then refund, redesignate or reattribute any donations received for the general election, according to FEC rules.
BLOOMBERG TO CAPITALIZE ON IOWA CAUCUS FIASCO BY DOUBLING AD SPENDING
Seven S&P executives, including Sorenson, Best Buy CEO Hubert Joly and Delta CEO Ed Bastian, donated a combined $28,000 to Klobuchar.
Biden received the third-highest amount, fundraising $14,000 from five executives, among whom were two pharmaceutical executives: AmerisourceBergen CEO Steven Collis and Henry Schein CEO Stanley Bergman.
AmerisourceBergen and Henry Schein are among the drug wholesalers who have been accused of playing a role in the opioid crisis.
Sanders and Warren have instead relied on small, grassroots donations instead of courting traditional big-money donors.
The loyalty that Sanders commands has transformed his anti-establishment campaign into a financial juggernaut, boosting him to first place nationally in an average of polls published by RealClearPolitics on the heels of his victory in New Hampshire and tie with Buttigieg in Iowa. In January, he raised a staggering $25 million, marking his highest monthly total since he entered the race.
For candidates, the need for cash will only increase ahead of Super Tuesday (March 3), when voters in 14 states cast their ballots. The 2020 hopefuls also have a new obstacle to face: Three-time New York City Mayor Michael Bloomberg, who's concentrating his unorthodox campaign on delegate-rich Super Tuesday states like California, and his unlimited funds. One of the wealthiest people in the world, Bloomberg is worth an estimated $60 billion and has vowed to use his vast personal fortune on the campaign.
CLICK HERE TO READ MORE ON FOX BUSINESS
Source: Read Full Article