Joe Biden will return to Wall Street for fundraisers after climate town hall

Real Estate

2020 Democratic U.S. presidential candidate and former Vice President Joe Biden speaks during the Presidential Gun Sense Forum in Des Moines, Iowa, August 10, 2019.

Scott Morgan | Reuters

Former Vice President Joe Biden is heading back to Wall Street for two fundraisers Thursday, the day after he participates in a climate change town hall.

Biden has shown a willingness to court big money and corporate-linked donors, even as his campaign tries to distance him from lobbyists. His main rivals for the 2020 Democratic nomination, Sens. Bernie Sanders and Elizabeth Warren, have rejected hosting these kinds of top-dollar fundraisers.

On Thursday, Biden will be hosted by real estate executive Jack Rosen and his wife, Phyllis, for a cocktail party, with tickets at $2,800, according to people with direct knowledge with the matter. Rosen is the CEO of Rosen Partners and president of the American Jewish Congress, a group dedicated to defending Jewish interests in the U.S. and abroad. A video of Rosen’s accomplishments as the organization’s leader has him pictured with both Biden and former President Barack Obama.

The longtime real estate executive also has ties to Russian billionaire Mikhail Fridman. In 2011, The Wall Street Journal reported that Fridman and Rosen were partnering to invest into U.S. properties worth $1 billion. Fridman and a few of his Eastern European business allies control Alfa Group, one of Russia’s largest privately owned consortium. Rosen was named to the international advisory board of Altimo, the telecommunications investment arm of Alfa Group in 2007.

That same day, Biden will be heading to the home of investment banker David Solomon, the invitation says. Solomon is a partner at family run investment firm Hildred Capital Partners. Tickets for this event also go up to $2,800. The company website says it has an interest in private equity. Solomon’s colleague Andrew Goldman was once a senior advisor to Biden when he represented the state of Delaware in the U.S. Senate.

Rosen has contributed to other 2020 candidates this cycle including Sen. Cory Booker of New Jersey and New York Mayor Bill de Blasio, records show. Solomon has not given to any contender so far this year.

Rosen, Solomon and a spokesperson for the Biden campaign did not return requests for comment.

Biden previously visited New York in June for events that included a fundraising stop at the home of famed short seller Jim Chanos. The gatherings helped bring in at least $1 million, organizers said at the time. He finished the second quarter raising $21.5 million.

The night before the fundraising spree, Biden will be in New York for a CNN town hall on that will focus on combating climate change. Ten presidential candidates will discuss the topic, including other top-tier contenders Warren, Sanders, Sen. Kamala Harris and South Bend, Indiana, Mayor Pete Buttigieg. Biden will also be taping an interview for “The Late Show with Stephen Colbert.”

Biden, Harris and Buttigieg received the most money in the second quarter from executives at the big banks of Goldman Sachs, J.P. Morgan Chase, Morgan Stanley, Citigroup and Bank of America.

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