Former Vice President Joe Biden told at least a half-dozen supporters Tuesday he intends to run for president and asked for their help in lining up contributions from major donors so he can quickly raise several million dollars, a person familiar with the matter said.

Mr. Biden has expressed concern to these people that he wouldn’t be able to raise millions of dollars in online donations immediately the way some other Democratic candidates have, including former Rep. Beto O’Rourke of Texas and Sen. Bernie Sanders of Vermont, this person said. Mr. O’Rourke raised $6.1 million in the 24 hours after he launched his bid for the Democratic presidential nomination, while Mr. Sanders collected $5.9 million in the same period.

Mr. Biden wants to announce a large fundraising number after his candidacy is official to better compete in what is often dubbed the “money primary” that kicks off a presidential season.

Mr. Biden has indicated previously that he is close to entering the race, but he hasn’t yet reached a final decision, with people around him cautioning that he could change his mind. A spokesman for Mr. Biden declined to comment Tuesday.

Newsletter Sign-Up Capital Journal Scoops, analysis and insights driving Washington from the WSJ's D.C. bureau. Subscribe Now

The former vice president’s team is scouting out a location for his campaign headquarters. Philadelphia, which is about 30 miles away from Mr. Biden’s home in Wilmington, Del., is the leading contender, according to a second person familiar with the discussions. The person said that the location of the headquarters hadn’t been finalized.


Mr. Biden hinted at a presidential campaign as recently as this past weekend, speaking to Democratic activists in his home state of Delaware. He noted that he had received criticism from the “new left.”

“I have the most progressive record of anybody running for,” Mr. Biden said, stopping and catching himself, “anybody who would run” for president.

Mr. Biden, who served as vice president under President Obama for two terms, previously sought the presidency in the 1988 and 2008 campaigns. If he entered the 2020 campaign, he would fill the role of an establishment figure in a crowded field that is largely competing for the party’s ascendant liberal base.

Philip Levine, a former Miami Beach, Fla., mayor and a top Democratic fundraiser, said that he hadn’t spoken to Mr. Biden recently, but that it was “highly likely” he would back Mr. Biden if he mounts another campaign.

Democratic candidates in the 2020 field are suggesting changes to two venerable American institutions, the Electoral College and the Supreme Court. WSJ's Gerald F. Seib explains. Photos: Getty

“I think he would be a great nominee. In order to win the general election, we must have an experienced centrist,” Mr. Levine said. “Progressives win districts. Centrists win states.”


Mr. Biden told some of the people he reached out to on Tuesday that he needs to show results early on because he will be judged in part based on his donations. The person said Mr. Biden is discussing setting up an exploratory committee sometime after the Easter holiday.

The primary field already includes more than a dozen candidates, including others beside Messrs. O’Rourke and Sanders who raised big money in the early days of their campaigns.

Aides to Sen. Kamala Harris of California said she raised about $1.5 million online on her first day. Sen. Amy Klobuchar of Minnesota, former Gov. John Hickenlooper of Colorado and Gov. Jay Inslee of Washington said they each hit $1 million within the first few days of their campaigns. The other candidates haven’t shared any fundraising information.

Sen. Elizabeth Warren of Massachusetts raised about $300,000 via ActBlue, the online fundraising platform used by nearly all Democratic politicians, in the first 15 hours of her campaign, according to ActBlue’s year-end fundraising reports.


The candidates are due to report their first-quarter fundraising totals to the Federal Election Commission on April 15. By planning to enter the race after the first-quarter fundraising deadline of March 31, Mr. Biden wouldn’t be required to submit a disclosure report in April.

Write to Emily Glazer at emily.glazer@wsj.com and Ken Thomas at ken.thomas@wsj.com