The billionaires who self-funded their 2020 runs | Campaign Money
Вставка
- Опубліковано 4 бер 2020
- When it comes to campaign money, a lot of people are asking about Mike Bloomberg and Tom Steyer, the billionaires whose self-funded their presidential campaigns. Is this allowed? How does their spending compare to other candidates? Is this healthy for democracy? The Post's campaign money reporter Michelle Ye Hee Lee explains how billionaires changed the game as Democratic presidential candidates in 2020.
For years, Bloomberg and Steyer have been two of the biggest political donors in the country. But this year, they each used their immense wealth to run for the Democratic presidential nomination. You may think that all billionaires are the same - that they all just have boatloads of money. But not all billionaires are created equal. Tom Steyer, a former hedge fund investor, had an estimated net worth of $1.6 billion in 2019. But Bloomberg is a multi-billionaire: with a net worth between of $55 billion and 60 billion dollars. On any given day, he’s somewhere between the 9th or the 12th wealthiest person in the world, according to Forbes.
Bloomberg is the biggest self-funded candidate in U.S. history. Steyer is a close second. And yes, this is allowed. A pattern of wealthy donors influencing elections has been building since 2010. You can watch our earlier videos in this series to learn more about how wealthy donors can spend unlimited amounts on politics, often while masking their identities.
Unlike their rivals, these Democratic presidential candidates didn’t have to spend time trying to motivate big donors or grassroots movements to ignite their campaign: they could afford to fund their own campaigns for months at a time. Read more: wapo.st/39DKdiQ. Subscribe to The Washington Post on UA-cam: wapo.st/2QOdcqK
Follow us:
Twitter: / washingtonpost
Instagram: / washingtonpost
Facebook: / washingtonpost
How does Bloomberg have so much money and such nasty teeth? Can't trust someone who doesn't even take care of themselves 🤷🏻♂️
He could literally have gold teeth
@@ksa5128 Good One. 👍
On the contrary, I trust unkempt people because they're not trying too hard to project an image of themselves onto others.
If he had big white teeth, I'd have my suspicions lol
(Not a Bloomberg supporter)
Bloomberg is now paying for Joe's campaign....it is corruption from top to bottom
@@squidsquiddly5970 Look at the bright side tho, money couldn't buy Bloomberg's presidency . Maybe it won't for Joe.
“Bloomberg spent more money in 3 months of TV and Radio campaigning than President Obama did in his entire reelection campaign in 2012” 😳
And all he won in the end was a tiny island in the American Samoa. Talk about wasted effort.
Really??!! Wow!
@@charmainedwards4278 Yep, it's proof that money can't win hearts and minds.
Hey Bloomberg! Don't you wish running a campaign was as easy as farming??
I think it is as easy as farming lol land "Web" soil "money" seeds "people" lol love KAMPUCHEA and God bless America JUMRONPOR
This is why we need to get money out of politics, start starving the ticks and they will scurry elsewhere.
And hilariously failed.
Still, he was carrying out wealth redustribution from his fancy shmancy New York money to local papers and news channels all over the US.
Who says he doesn't look out for everyday folk?
@@telectronix1368 true he did put 500 million into the economy, he had to pay for the services
He could’ve actually done something decent instead of running for president. I have been so annoyed with his ads just appearing. I am happy yet extremely disappointed that this money was wasted.
Titan BINGO
They should have helped the poor with all that money 760 million dollars!!!!
Help reforest the Amazon and coastal wetlands
@@owenhope1347 Instead they gave all their money to politicians and rich media outlets. Lined all the pockets of well to do people.
Why is it wrong for somebody to self-fund their campaign? They are using their OWN MONEY. They do not owe donors ANY FAVORS, when they are elected, which means that they are more likely to follow through with their own campaign promises.
I like the video format
Thank you, Michelle ! Please ask Jeff to call me tomorrow. And yes, he has my number.
The age of planet earth is about 4.6 Billion years old. The age of the universe is about 13.8 Billion years. These people have more money then the age of the entire universe. And we allow this in our culture?
I don’t see an issue with this. While their enormous wealth helped them. Other candidates are relying on donations from the people. As they have for decades of suckling on government feeders their whole lives.
I see both as issues.
This is insane
CAMPAIGN MONEY: "The Billionaires Who Self-Fingered Their 2020 Buns"
Sad look what all that money bought them.
Guess Mike wont get it done
Honestly, calling it a "run at being President" seems a bit too grand or thought-through.
Mike "Brewster's Millions" Bloomberg was engaging in some performance art.
They both lost, so it really doesn’t matter much.
Except it does? I mean Bloomberg literally spent half a billion dollars on his campaign, moving from virtual nothingness to 15% in the polls. This kind of campaigning is unprecedented in the United States. You really don't think this doesn't or will not matter?
@@j.e.8906 how does it matter? They both dropped out!
Trump gang
Seems shady
So what,they work for that money,they could use anyway they want,there nice people and sametime they make mistek like anybody else.
No. Bloomberg did, in no way shape or form, do work that warranted the vast fortune he has.
@@telectronix1368 how you know ,your rich because when you invest tbe money you make more money like warren buffet.
@@guillermotroncoso4276 No there is no actual job, no **actual** work that warrants that vast fortune.
@@telectronix1368 what you trying to say , he stolen the money? My point is anybody who run for any position in the goverment the could take money for rich but with the condition the money make the legal way,that what I am trying to said ,maybe I am posible wrong but I believe in the freedom.
Money is freedom
💓😘
oh and old joe has money alright, lets see that Ukraine money joe XDDDD
So cheaply produced