Tom Steyer plans to spend $100 million of his own money running for president, but he’s still chasing small donors to make the debates
“Can you contribute even one dollar?” Steyer says in a presidential campaign ad running on Facebook, where he is spending thousands of dollars seeking a relative handful of $1 donations in return. “That would help a lot.”The hedge fund founder’s online panhandling is a surreal consequence of the Democratic Party’s presidential debate rules. Steyer launched his 2020 campaign a little over two weeks ago and plans to self-fund his White House run with $100 million of his own money.
In a brief interview, Steyer said he is “on track” to meet the 130,000-donor threshold and added that getting 2 percent in two recent polls is proof that his message of “taking back democracy from corporations” and “tackling climate seems to be resonating.” Steyer and his campaign declined to say how many individual donors he has amassed so far.
In an election featuring many candidates who are limiting their own fundraising — such as rejecting corporate PAC money, and in some cases rejecting closed-door fundraisers — critics are already coming down hard on Steyer for pouring his millions into his own bid for president. Steyer isn’t the only self-funder in the 2020 field: Former Maryland Rep. John Delaney, who made his millions in the financial industry, has also poured about $19 million of his own money into his campaign. Facing the same donor threshold that Steyer is trying to meet, Delaney memorablyto give $2 of his own money to charities for every new donor he received, in what he called the “Delaney Debate Challenge.
Another one of Steyer's advantages is the email list developed by Need to Impeach, which counts more than 8 million members and has been rented by the presidential campaign. The list is a jumping-off point for Steyer's campaign to build a trove of supporters willing to chip in for the debate — or later on, to vote for the candidate.
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