UNITED STATES—Individuals in the securities and investment industry have given over $74 million to back Joe Biden’s candidacy for president, according to data from the Center for Responsive Politics.
The Center for Responsive Politics is nonpartisan, independent and nonprofit. It aims “to produce and disseminate peerless data and analysis on money in politics to inform and engage Americans, champion transparency, and expose disproportionate or undue influence on public policy.”
Steve Ricchetti, Biden’s campaign chairman, met with finance executives in January to encourage them to support Biden. Attendees included Roger Altman of Evercore, Blair Effron of Blackstone, Jonathan Gray of Citigroup, Ray McGuire of Citigroup, Mark Gallogly of Centerbridge Partners and former U.S. Ambassador to France Jane Hartley.
Wall Street’s financial support for Biden is more than what Barack Obama received in his two presidential runs. It exceeds what Wall Street executives gave to President Donald Trump in 2016 and 2020. It is less than Hillary Clinton’s 2016 presidential run, which saw $87 million.
Trump was given $20 million from those in the finance industry in 2016. In 2020, it was a little over $18 million. His top Wall Street donors in 2020 were Dianne Hendricks of Hendricks Holding Co. ($5 million), Warren Stephens of Stephs Inc. ($4 million) and Stephen Schwarzman of Blackstone Group ($3 million).
Biden’s top Wall Street donors in 2020 were Donald Sussman of Paloma Partners ($9 million), James Simons of Euclidean Capital ($7 million), Jessica Livingston of Y Combinator ($5 million) and Henry and Marsha Laufer of Renaissance Technologies ($4.2 million).
The 2020 cycle saw over $625 million from those in the securities and investment industry, including congressional and presidential contests.