Contrary to popular belief, former Florida governor and current presidential candidate Jeb Bush said last Sunday that he does not need US$1 billion to win in the 2016 presidential race.

When elections come around, the common notion for most people is that the candidates running need to amass huge amounts of money to even get in the race. However, Bush said that it just is not the case. He said spending US$1 billion is not a requirement for winning the presidential elections.

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Outside the Burger & Beer Joint in South Beach, Bush told reporters that if a person runs the right kind of campaign, all that money is not needed.

Since he expressed his intention to run last January, Bush and his allies have been targeting big numbers. If he raises less than a billion, he would be behind President Barack Obama and Republican candidate Mitt Romney's final haul of 2012.

He is not ignorant to the reality of money though. He acknowledged that he does get into the race, he and his team will need to raise a significant amount of money to build a great policy and a great campaign as well.

He hinted though that instead of big donors, they may focus their efforts on smaller donors and big money men and women who have moved to the forefront in the wake of the 2010 Supreme Court decision that allowed unlimited amounts of money donated to organizations.

The comments come two days before Bush hosts a confab for top donors at a premier hotel in South Beach.

The event will be an opportunity for his donors to meet Bush's top staff from the PAC face-to-face. It is slated to be one of the largest gatherings of top donors since he started running last January.

Bush planned the event just after an early voting swing in the states of Iowa, New Hampshire, and South Carolina.

Tags2016 presidential race, Jeb Bush, campaign, presidential elections