Wall Street and finance execs spread their donations across the 2020 Democratic field in the first quarter

Wall Street and finance executives placed their early 2020 bets on a variety of Democratic presidential candidates, from Pete Buttigieg to Kamala Harris, even as the contenders try to distance themselves from big-money donors.

The first-quarter fundraising totals are the latest indication that high-profile Democratic financiers are waiting for the field to thin out before they open their funding networks and checkbooks to potential challengers to President Donald Trump next year.

Some donors have also been eagerly waiting for former Vice President Joe Biden to enter the race before they open their extensive money networks to other candidates, according to people familiar with the deliberations.

Meanwhile, as Democrats vie for limited dollars in a crowded group, Trump’s campaign raised a whopping $30 million in the first quarter and has more than $40 million in cash on hand, giving the president a clear edge even as he suffers from low approval ratings.

Source: CNBC

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