Washington (CNN)Massachusetts Sen. Elizabeth Warren entered the 2020 presidential race this week in a strong financial position as a prodigious fundraiser with lots of available cash.
Democrats are getting ready to run in 2020. Who has the money advantage?
Warren, who announced a presidential exploratory committee on Monday, has $12.5 million left over from her 2018 Senate campaign that she can transfer to her presidential campaign coffers. Only one other Democratic senator considering a presidential bid has come close to Warren's early war chest: New York's Kirsten Gillibrand, who ended the 2018 election season with $10.5 million remaining in her Senate campaign account.
Warren, Gillibrand and the other Democrats weighing presidential bids will need every cent they can collect. For starters, President Donald Trump, who took the unprecedented step of filing for re-election on the day he was sworn into office in January 2017, already has raised a whopping $106 million for his reelection.
And presidential campaigns are notoriously expensive affairs. The price tag of the 2012 general election contest between former President Barack Obama and Republican Mitt Romney -- including money from the outside groups backing their campaigns -- topped $2.3 billion, according to a tally by the non-partisan Center for Responsive Politics.
Here's a look at the early fundraising picture for some of the possible contenders:
Warren, a former Harvard law school professor turned consumer advocate, is known for her searing criticism of Wall Street banks. So, no, don't expect New York financiers to line up to raise money on her behalf. She's also ruled out help from a super PAC.
"I don't think we ought to be running campaigns that are funded by billionaires, whether it goes through super PACs or their own money that they're spending," Warren told reporters this week.
She enters the field with a sizable small-donor base: More than $6 of every $10 Warren raised from individual contributors for her 2018 Senate re-election came from donors who contributed in amounts of $200 or less, Federal Election Commission records show.
Warren will need to lean on those kinds of donors, who can contribute repeatedly to her campaign before hitting contribution limits, to sustain her in a crowded Democratic field.
She already is racing to collect cash for the presidential exploratory committee she announced on New Year's Eve. A campaign email sent in the waning hours of 2018 urged supporters to make donations as small as $3.
A key liberal activist, Adam Green, co-founder of the Progressive Change Campaign Committee, immediately endorsed Warren's bid. He said her record of building coalitions to achieve policy goals, such as the creation of the watchdog Consumer Financial Protection Bureau following the 2008 financial crisis, gives her credibility with liberal donors.
"Donations to Elizabeth Warren are not an impulse buy," Green told CNN this week. "They are fundamentally built on a track record of her consistently challenging power -- whether that's challenging Wall Street and big insurance or challenging systemic racism."
Gillibrand, raised nearly $18 million for her Senate re-election campaign and coasted to victory over a little-known rival. That's left her with a hefty war chest of leftover cash -- $10.5 million.
As a senator representing the nation's financial capital, she also has ties to deep-pocketed donors. The securities and investment sector ranks among the top five industries supporting Gillibrand in recent years, according to the Center for Responsive Politics.
She's campaigned for other Democrats in the midterms and invested heavily in digital advertising on Facebook -- a move that will help her expand her name recognition and build lists of potential supporters.
But Gillibrand ran afoul of some powerful Democratic donors after leading calls urging Minnesota Democrat Al Franken to resign from the Senate. Franken quit last year following allegations that he touched women inappropriately.
Liberal billionaire George Soros told The Washington Post last June that he blamed Gillibrand for pushing out Franken "in order to improve her chances."
The New Jersey senator wasn't on the ballot in 2018, but he crisscrossed the country in an effort to influence the midterm elections -- ranging from Georgia, where he stumped for Stacey Abrams, who ran unsuccessfully for governor, to the key presidential caucus state of Iowa.
Booker, who has served in the Senate since October 2013, has extensive political and financial networks around the country and counts the people who work in the securities industry as among the top sectors donating to his campaign, according to the Center for Responsive Politics' analysis of donations.
And Booker drew national attention long before he became a senator as part of a Sundance Channel documentary series, "Brick City," which launched in 2009 and centered on his role as then-mayor of Newark, New Jersey. Facebook CEO Mark Zuckerberg, one of the planet's richest men, pledged $100 million to the city's schools during B