Sen. Bernie Sanders Bernie SandersThe Hill's Campaign Report: Trump faces backlash after not committing to peaceful transition of power Bernie Sanders: 'This is an election between Donald Trump and democracy' The Hill's 12:30 Report: Trump stokes fears over November election outcome MORE (I-Vt.) on Tuesday praised Tom Steyer Tom SteyerTV ads favored Biden 2-1 in past month Inslee calls Biden climate plan 'perfect for the moment' OVERNIGHT ENERGY: Trump administration finalizes plan to open up Alaska wildlife refuge to drilling | California finalizes fuel efficiency deal with five automakers, undercutting Trump | Democrats use vulnerable GOP senators to get rare win on environment MORE after the billionaire philanthropist entered the 2020 presidential race but criticized the notion of a billionaire running for the White House.

“I like Tom personally, but I do have to say as somebody who in this campaign has received 2 million contributions, averaging $19 a person, I'm a bit tired of seeing billionaires trying to buy political power,” Sanders told MSNBC’s Andrea Mitchell in an interview.

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Steyer announced Tuesday that he would pursue the Democratic presidential nomination, reversing course after saying months ago that he would not.

The former hedge fund manager has funded political projects and Democratic campaigns for years.

He has been especially involved with an effort to impeach President Trump Donald John TrumpSteele Dossier sub-source was subject of FBI counterintelligence probe Pelosi slams Trump executive order on pre-existing conditions: It 'isn't worth the paper it's signed on' Trump 'no longer angry' at Romney because of Supreme Court stance MORE.

Sanders has eschewed high-dollar fundraisers and took in $18 million in the second quarter of 2019 from more than 1 million contributions, 99 percent of which were $100 or less, according to his campaign.

The Vermont lawmaker has framed much of his campaign rhetoric and policy positions in opposition to extreme accumulation of wealth by a few Americans when others struggle with basic necessities.

Sen. Elizabeth Warren Elizabeth WarrenHillicon Valley: Subpoenas for Facebook, Google and Twitter on the cards | Wray rebuffs mail-in voting conspiracies | Reps. raise mass surveillance concerns On The Money: Anxious Democrats push for vote on COVID-19 aid | Pelosi, Mnuchin ready to restart talks | Weekly jobless claims increase | Senate treads close to shutdown deadline Democratic senators ask inspector general to investigate IRS use of location tracking service MORE (D-Mass.), who has also rejected big-money fundraisers and managed to bring in significant donations, also seemed to criticized Steyer’s entry to the race, although she did not call him out by name.



“The Democratic primary should not be decided by billionaires, whether they’re funding Super PACs or funding themselves,” the Massachusetts lawmaker tweeted. “The strongest Democratic nominee in the general will have a coalition that’s powered by a grassroots movement.”

The Democratic primary should not be decided by billionaires, whether they’re funding Super PACs or funding themselves. The strongest Democratic nominee in the general will have a coalition that’s powered by a grassroots movement. — Elizabeth Warren (@ewarren) July 9, 2019

Steyer is worth an estimated $1.6 billion, according to Forbes.

In 2010, he and his wife, Kat Taylor, signed “The Giving Pledge,” vowing to donate “the bulk of our assets to philanthropic activities carried out over the course of our lifetimes.”