Has Joe Biden Lost His Mojo? Amid A Struggling Campaign, Major Donors Switch To Bloomberg

As former Vice President Joe Biden’s presidential campaign continues to flounder, major donors have begun to switch their alliance to Michael Bloomberg. Biden, once considered a strong frontrunner for the 2020 Democratic nomination, has seen his campaign fall to fourth and fifth-place finishes in Iowa and New Hampshire, respectively.

Reports indicated Wednesday concern is mounting among Biden’s wealthier donors that the candidate no longer has what it takes to clinch the nomination from frontrunners Vermont Sen. Bernie Sanders and former South Bend (Ind.) Mayor Pete Buttigieg, who finished neck-and-neck in Iowa and New Hampshire.

Sources told Bingepost Jon Henes, of the law firm Kirkland & Ellis, has informed colleagues of his intention to change his alliance to Bloomberg going forward, following in the footsteps of nearly a dozen other donors. Henes made these decisions in private, the sources said, and has not spoken publicly on the matter.

Henes raised $100,000 for Hillary Clinton in 2016 and was a major fundraising bundler for Kamala Harris before she suspended her 2020 campaign.

While acknowledging Sanders as the current frontrunner, fundraisers are beginning to view Bloomberg as the Democratic Party’s best option for unseating President Trump in November. Often cited as a reason for this belief is Bloomberg’s self-funded initiative, built on his personal fortune of $60 billion.

“Bloomberg is running a great campaign, hiring incredible people and building an impressive field operation across the country,” a Wall Street Biden supporter said of Bloomberg’s campaign. “Also spending essentially unlimited money and we’re seeing all of that result in an impressive increase in the polls.”

While behind Buttigieg by one delegate, Sanders has so far has won the popular vote and recent polls have placed him as the frontrunner with 27% of the vote. Bloomberg, who skipped out on the earlier primaries in favor of larger contest, makes his debate debut Wednesday night against Sanders, Buttigieg, Biden, Elizabeth Warre, and Amy Klobuchar ahead of Saturday's Nevada Democratic caucuses.