If you want to be a member of the national finance committee for Joe Biden's 2020 presidential campaign, be prepared to raise up to $100,000.
The former vice president's campaign is calling on its network of bundlers to help put together thousands of dollars in contributions. There are four tiers of fundraisers in the Biden system, according to an invitation CNBC obtained through a donor who recently sent in a contribution.
- The "Advocate" group requires members to raise $25,000 by June 30.
- The "Protector" group requires its members to bring in $50,000 in 2019.
- A "Unifier" must rake in $100,000 this year.
- A "Power Raiser" must acquire 10 unique contributions of $100 or more each month. Each of these donations "must be from a different, new-to-you donor," according to the invitation.
The invitation pitches donors and fundraisers a chance to be one of Biden's "most dedicated supporters" and to help "fuel a professional and inclusive campaign."
A spokesperson for the Biden campaign declined to comment.
Biden's bundler targets are the latest signs that the Democratic frontrunner is distancing himself from rivals such as Sens. Bernie Sanders and Elizabeth Warren, who have sought to build goodwill among grassroots donors while shunning big-money backers.
So far, Biden's early fundraising strategy appears to be paying off. He racked up $6.3 million in his first full day in the campaign, ahead of the rest of the primary field. He has also roped in supporters from the finance, real estate and media industries, including famed short seller Jim Chanos, real estate executive Bruce Mosler and private equity executive Sandy Robertson.
Biden will be coming to New York on June 17 for fundraising events, including one hosted by Chanos and featuring Gov. Andrew Cuomo, who will introduce the former vice president. A group of fundraisers met at Robertson's San Francisco home on Sunday with two senior campaign advisors to discuss their strategy for the Bay Area. Biden is expected to start a fundraising tour there at the end of June.
Meanwhile, the former vice president is preparing to go to Chicago for another round of fundraising events starting June 12. While visiting the Windy City, he will be hosted by Robert Wislow, the chairman of commercial real estate behemoth CBRE Group, according to people familiar with the matter. Tickets for the gathering are expected to go up to $2,800, these people added.
Wislow supported Barack Obama when he first ran for president in 2008, but he has contributed to Republican causes as well. He also hosted fundraisers for former Chicago mayor and Obama chief of staff Rahm Emanuel.
Wislow did not respond to repeated requests for comment.