President Joe Biden and the Democratic National Committee announced raising over $51 million in April, falling short of the $76 million raised by Donald Trump and the Republican Party for the same month. Biden’s campaign reported having $192 million in cash-on-hand, the highest ever for a Democratic candidate, but it was similar to what was reported at the end of the first quarter. Trump’s April fundraising was boosted by a record-setting event with donors at the Palm Beach home of billionaire John Paulson. Next month, Biden’s campaign plans a fundraiser in Los Angeles with Hollywood stars George Clooney and Julia Roberts.
In March, Trump and the GOP reported raising over $65.6 million and ending the month with $93.1 million in cash-on-hand. Biden’s campaign highlights the importance of a large war chest for major advertising campaigns in key states and mobilizing supporters ahead of the election, surpassing Trump’s on-the-ground efforts. The campaign has over 150 coordinated offices with Democratic officials and 500+ staff in battleground states. Despite Trump’s previous fundraising advantages, polls show Biden facing low approval ratings and most voters not wanting a 2020 rematch. Trump’s personal finances have also been strained by legal fees amid indictments in criminal cases.
Biden campaign manager Julie Chavez Rodriguez stated that April’s fundraising allows them to invest in opening offices, hiring organizers, and mobilizing voters in battleground states. The campaign aims to energize the coalition of voters who will decide the election. The Biden team touts having a strong month for recurring donors, with over $5.5 million contributed by such donors in April alone. They report 225,000+ donors committed to monthly contributions, surpassing the previous cycle. Since Biden announced his reelection bid in 2023, 96% of all donations have been under $200, with 1.8 million donors making nearly 4.9 million contributions.
The Biden campaign’s fundraising efforts have been focused on grassroots support and maintaining momentum leading up to the election. They emphasize the importance of building a strong financial foundation to support their campaign initiatives. Despite facing challenges from Trump’s fundraising and the overall political landscape, the Biden team continues to engage with donors and voters to secure the necessary resources for a successful reelection bid. The upcoming months will be critical as both campaigns ramp up their efforts to reach potential supporters and sway undecided voters in key battleground states.
As the 2024 election approaches, both Biden and Trump are gearing up for a highly anticipated rematch. With fundraising playing a significant role in campaign operations, each candidate’s ability to maintain strong financial support will be crucial. The contrast in fundraising numbers between Biden and Trump reflects the ongoing competition for resources and the importance of financial backing in modern political campaigns. The race for funds will likely intensify as the election draws nearer, with both sides vying for the financial backing needed to secure victory in November.
