Wall Street executives and hedge fund managers say former Vice President Joe Biden has “no chance” against Mike Bloomberg and should drop out of the Democratic presidential race, Fox Business reported.
Sen. Bernie Sanders, I-Vt., is currently the front-runner among Democrats, with former South Bend, Indiana, Mayor Pete Buttigieg, Biden, and Sen. Amy Klobuchar, D-Minn., splintering the rest of the vote.
Biden flailed in Iowa – finishing in fourth place – and departed New Hampshire early for South Carolina without attending his own campaign party.
Bloomberg, who has only been in the race for a few weeks, missed the Iowa and New Hampshire primaries, but is polling high. In this week’s Quinnipiac poll, the former New York City mayor polled at 21%, with Biden at 22%. Two weeks ago, Bloomberg was at 8%.
“I feel sorry for Biden,” Leon Cooperman, a billionaire hedge fund investor, told Fox Business. “He should withdraw; he has no chance.”
Other executives have echoed a similar message, according to the news outlet, and big donors have more recently pulled back on supporting Biden.
Wall Street supporters are gravitating toward Bloomberg as Biden’s numbers wane because of Bloomberg’s history, and because many are friends of his – Bloomberg was a Wall Street trader before he started Bloomberg News and is using his own money on his campaign. Additionally, Bloomberg is being endorsed by mayors and lawmakers.
“Take Mr. Bloomberg seriously,” Peggy Noon wrote Thursday in The Wall Street Journal. “Uphill, but he could pull this off.”