The New York Times reports that, prior to launching her 2020 presidential election campaign and "vowing not to attend private fund-raisers or dial up rich donors" during the presidential primary, Senator Elizabeth Warren raised big money into her Senate campaign committee "from the same donor class she is now running against" and then transferred $10.4 million in leftover funds from her 2018 Senate campaign to underwrite her 2020 presidential run.
On the highest floor of the tallest building in Boston, Senator Elizabeth Warren was busy collecting big checks from some of the city’s politically connected insiders. It was April 2018 and Ms. Warren, up for re-election, was at a breakfast fund-raiser hosted for her by John M. Connors Jr., one of the old-guard power brokers of Massachusetts.
Soon after, Ms. Warren was in Manhattan doing the same. There would be trips to Hollywood and Silicon Valley, Martha’s Vineyard and Philadelphia — all with fund-raisers on the agenda. She collected campaign funds at the private home of at least one California megadonor, and was hosted by another in Florida. She held finance events until two weeks before her all-but-assured re-election last November.
Then, early this year, Ms. Warren made a bold bet that would delight the left: She announced she was quitting this big-money circuit in the 2020 presidential primary, vowing not to attend private fund-raisers or dial up rich donors anymore. Admirers and activists praised her stand — but few noted the fact that she had built a financial cushion by pocketing big checks the years before.
The open secret of Ms. Warren’s campaign is that her big-money fund-raising through 2018 helped lay the foundation for her anti-big-money run for the presidency. Last winter and spring, she transferred $10.4 million in leftover funds from her 2018 Senate campaign to underwrite her 2020 run, a portion of which was raised from the same donor class she is now running against.