Politics

Joe Biden's donation listing consists of greater than 30 executives with Wall Avenue connections

Over 30 executives with Wall Street connections have raised huge amounts of money for Democrat Joe Biden's presidential campaign.

CNBC checked a new list of more than 800 Biden bundlers who had raised at least $ 100,000 for the campaign and found that several of them had ties to financial companies. Some had been mentioned on the initial Biden fundraiser list posted during the 2019 Democratic Primary Contests.

These coordinators urged their extensive networks in business and philanthropy to give something to the Biden campaign.

They have also made six-figure contributions to Biden's joint fundraising committees and hosted virtual fundraising events. The joint committees help raise funds for the campaign, the National Democratic Committee, and the States Parties.

The list includes two Blackstone executives: Jonathan Gray, president of the investment giant, and Tony James, executive chairman of the company. The updated list was officially released late Saturday.

Others include Frank Baker, co-founder of private equity firm Siris Capital; Bill Derrough, the DNC treasurer and executive director of investment bank Moelis; Mark Gallogly, co-founder of investment firm Centerbridge Partners; Marc Lasry, the CEO of Avenue Capital Group; and Robert Rubin, Bill Clinton's Treasury Secretary and now an advisor at investment firm Centerview Partners. Rubin was once the co-chair of Goldman Sachs.

Centerview co-founder Blair Effron is also on Biden's new bundler list.

Lasry, a co-owner of the Milwaukee Bucks, raised over $ 3 million, according to a person with direct knowledge of the matter. This person declined to be named as the amount had not yet been released. Derrough told CNBC on Sunday that it brought in just over $ 1 million.

Several lawyers affiliated with the financial industry helped raise funds for Biden in the 2020 election.

Brad Karp, chairman of the legal juggernaut Paul, Weiss, is one of those attorneys. He names Citigroup, JP Morgan, Bank of America, Morgan Stanley, Goldman Sachs, Blackstone and Apollo Global Management as clients. Jon Henes, a partner at Kirkland & Ellis and a leading consultant on restructuring and corporate governance, is also on the Biden Bundler list.

Henes was Sen. Kamala Harris' national finance chairman when she ran for president.

Faiza Saeed, partner at Cravath, Swaine & Moore, "advises public companies, boards of directors and special committees in connection with M&A, corporate governance and crisis management," states the company's website. Under the Featured Work section of the website, Saeed lists Viacom's recent acquisition of CBS and a deal between Occidental Petroleum and longtime investor Carl Icahn.

Although the Biden campaign did not specify how many of these financiers would reach the top level of donation of at least $ 2.5 million, their efforts have clearly boosted the former Vice President's war chest. The surge in fundraising that Biden received in the third quarter alone enabled him to increase ad spending before President Donald Trump.

A recent study by the Wesleyan Media Project found that Biden's campaign spent over $ 560 million on television, digital and radio advertising. Trump has now spent a little more than $ 425 million on these platforms.

The donation from these leaders on Wall Street also reflects the support Biden has received from the financial industry since he became the Democratic nominee for president.

"First and foremost, I think it represents a sense of normality and decency," said Derrough, describing his success in raising money from the Wall Street leaders. "When you think of the financial world in general, they don't want surprises. They want predictability. We've had a lot of unpredictability over the past four years."

Biden's campaign raised over $ 13 million from securities and investment workers, according to the non-partisan Center for Responsive Politics. At least $ 74 million from people at Wall Street firms went into various efforts to support his candidacy, including pro-Biden super PACs.

In the final two weeks of the election, Biden, DNC, and their joint fundraising committees had $ 330 million. That's $ 110 million more than Trump, the Republican National Committee and their joint committees. Biden's campaign is on track to raise $ 1 billion by Tuesday election day.

Next to Wall Street, Biden's campaign raised donations from Silicon Valley executives, including LinkedIn co-founder Reid Hoffman and venture capitalist Ron Conway.

Political leaders like former South Bend, Indiana, Mayor Pete Buttigieg, Michigan Governor Gretchen Whitmer, and Senator Amy Klobuchar are also on the list.

Sub-list of executives with Wall Street connections helping Biden:

Frank Baker

Brett Barth

Jim Chanos

Mark Chorazak

David Clunie

William Derrough

Roger Altman

Blair Effron

Jon Feigelson

Mark Gallogly

John Rogers

Jon Gray

Tony James

Jon Henes

Sonny Kalsi

Orin Kramer

Brad Krap

Brian Kreiter

Marc Lasry

Nate Loewenthall

Eric Mindich

Kara Moore

Charles Myers

Alan Patricof

Deven Parekh

Robert Rubin

Evan Roth

Faiza Saeed

Rajen Shah

Jay Snyder

Rob Stavis

Jeff Zients

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