The 2020 campaigns of the three billionaires running for president next year have collectively spent about two-thirds of all ad dollars so far. Why it matters: Self-funded billionaires like former hedge fund manager Tom Steyer and former New York Mayor Michael Bloomberg are trouncing candidates like Sens. Elizabeth Warren and Bernie Sanders, who are getting most of their money from small-dollar fundraising.
Yes, but: Although President Trump is a billionaire, his campaign this time around isn’t self-funded. The Trump campaign has raised most of its money alongside big Republican political groups like the Republican National Committee. Details: Bloomberg has only officially been in the presidential race for a few days, but already he’s invested more in television ads this year than many of his competitors.