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Has Biden received more funding from the financial sector than Trump?

Saturday, October 24, 2020
By Austin Tannenbaum
YES

Joe Biden has received significantly more cash from the financial sector than Donald Trump over the course of the 2020 election cycle. In the top two financial-sector categories, Biden has taken in five times more money than Trump, according to reports using federal data released Oct. 16.

In the securities and investment sector, Biden raised $57.7 million compared to Trump's $13.8 million. Among donors working in hedge funds or private equity, Biden raised $35.3 million to Trump's $6.8 million.

Finance executives have cited frustration with Trump's market-destabilizing tweets and their desire to avoid a contested election as reasons for supporting Biden. Biden has proved himself an ally of credit-card companies with his support of bankruptcy restrictions while a Senator. Last year, he reassured wealthy donors that "nothing would fundamentally change" under his presidency.

This fact brief is responsive to conversations such as this one.
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