Why might self-announcement attract candidates with the personal wealth to finance their own campaigns

Because the self-announcement allows candidacy without the need for membership in a political party.

Explanation:

Political campaigns in electoral times are expensive and need a great deal of funding, which is done by political parties and by economic alliances that these parties have with institutions that can help pay the costs of the campaigns. For this reason, most candidates for political office need to join parties to launch their political campaigns.

However, it is possible that people with great economic power and a strong ability to pay for the costs of an election campaign, are candidates for political office without having to affiliate with parties. These people do this through self-announcement, which occurs when a citizen runs for political office without the concentration of a political party, and can set up the campaign however they want.

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