Feb 6, 2020 - Politics & Policy

Bernie Sanders' campaign says it raised $25 million in January

Photo: Joe Raedle/Getty Images

Bernie Sanders' 2020 presidential campaign said Thursday that it raised $25 million in January.

Why it matters: It's a huge sum of money given that there is still a crowded field of Democratic candidates. In 2019's fourth quarter, Sanders pulled in $34.5 million — the most of any Democratic presidential hopeful — and he kicked off 2020 with a staggering $18.2 million in cash-on-hand.

  • With Sanders vying for a win in the Iowa caucuses and given his solid polling ahead of New Hampshire's primary next week, his campaign will need the cash as it ramps up to a national race.
  • It plans to use the fundraising to increase staffing in Super Tuesday states and put $5.5 million toward television and digital ads across 10 states, including Texas and California.

The big picture: Despite leading the way in fundraising among Democrats, Sanders has to compete in the money game beyond Super Tuesday with billionaire Mike Bloomberg, who is self-funding his run — and spent $188 million in 2019's fourth quarter, despite only entering the race at the end of November.

Go deeper: The 2020 Democratic candidates winning the money game

Go deeper

The 2020 Democratic candidates winning the money game

Data: 2019 FEC filings. Donations do not include funds from political committees or the candidates themselves. Chart: Danielle Alberti/Axios

In a primary race stacked with billionaires, the candidates raising the most money don't necessarily have all the same advantages.

Between the lines: Michael Bloomberg and Tom Steyer are easily able to outspend and outlast any other 2020 campaign. But while fundraising numbers show how powerful and long-lasting a campaign could be in a long election cycle, they are also a sign of support and excitement around a candidate — something money can't always buy.

Bloomberg campaign spent more than $188 million in one quarter

Photo: Mark Wilson/Getty Images

Michael Bloomberg's 2020 campaign spent more than $188 million in just the last quarter of 2019, according to new FEC data.

Why it matters: Bloomberg didn't officially announce his presidential bid until late November. But in one quarter, his campaign spent more than twice as much as Sen. Bernie Sanders' campaign spent in all of 2019 — $89.9 million.

Bloomberg's Super Tuesday splurge

Photo: Spencer Platt/Getty Images

Michael Bloomberg is funneling more than a third of his massive advertising war chest into the 14 states voting on Super Tuesday, data from Advertising Analytics shows.

Why it matters: While most candidates are focusing their dollars and efforts on early primary states, the Democratic presidential candidate has his eyes set on the states he thinks he can win — and those with the most delegates.