illionaires played a bigger role in the 2020 election than ever before. Three of them—Donald Trump, Michael Bloomberg and Tom Steyer—ran for president. A fourth, Howard Schultz, flirted with the idea.
Even still, the donations won’t make much of a dent in the billionaires’ fortunes, which are growing at a faster rate than campaigns’ expenditures. In fact, a number of the donations are relatively modest in comparison to their outsize fortunes.
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