Politics

Megadonor Marc Lasry: 'Next couple days' crucial to Joe Biden's fundraising

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Key Points
  • Democratic megadonor Marc Lasry downplayed concerns about Joe Biden's fundraising abilities on Tuesday.
  • "I think he's got enough money. A lot of it will depend over the next couple days," the billionaire investor told CNBC.
  • Lasry's comments come on Super Tuesday, when primaries will be held across 14 states.
Democratic presidential candidate former Vice President Joe Biden speaks to supporters at a campaign event on March 2, 2020 in Houston, Texas. Candidates are campaigning the day before Super Tuesday, when 1,357 Democratic delegates in 14 states across the country will be up for grabs.
Callaghan O'Hare | Getty Images

Democratic megadonor Marc Lasry downplayed concerns about Joe Biden's fundraising abilities on Tuesday, arguing this week was critical to the former vice president's ability to stay in the primary. 

"I think he's got enough money. A lot of it will depend over the next couple days," the billionaire investor said on CNBC's "Fast Money Halftime Report." "If he does well in a number of these states he'll get more money." 

Lasry's comments come on Super Tuesday, when primaries will be held across 14 states, including delegate-rich places such as California and Texas. 

Read more: CNBC live blogs Super Tuesday results and updates

Biden's campaign is coming off a significant victory in the South Carolina primary, which helped narrow the Democratic field and gave the 77-year-old Biden renewed momentum as he seeks to close the gap with front-runner Sen. Bernie Sanders, I-Vt. 

Biden received endorsements Monday from three former rivals, including Sen. Amy Klobuchar, D-Minn., and former South Bend, Indiana, Mayor Pete Buttigieg. Former Rep. Beto O'Rourke of Texas also threw his support behind Biden, who is seeking to consolidate the support of moderate voters. 

Biden's campaign had been struggling, posting disappointing showings in the first two nominating contests and losing support from key fundraisers

But the state of the race shifted after South Carolina. Biden has seen a surge of new support from big-money donors. The campaign also said it raised $5 million online within 24 hours of the South Carolina victory. 

Marc Lasry, co-founder and chief executive officer of Avenue Capital Group.
Adam Jeffery | CNBC

Lasry, a part owner of the NBA's Milwaukee Bucks, had been supporting Sen. Kamala Harris, D-Calif., but opened up his donor network to Biden in December shortly after Harris withdrew from the primary race.  

Lasry, co-founder and CEO of Avenue Capital Group, conceded that Sanders currently has a money advantage over Biden. 

Sanders raised $46.5 million in February while Biden raised $18 million over that same time period. 

But Lasry said other factors are important in the race, particularly the strong desire among Democrats to nominate a candidate who can defeat President Donald Trump in November. 

"At the end of the day, I don't know if it's all about the money," he said. "There's a choice and people have to go out there and vote. The fact that he may not have as much money as Sanders does, if people want to support [Biden], they're going to support him."