President Joe Biden’s reelection campaign raised more than $90 million in March, bringing his total funds to nearly $200 million heading into April. This comes as former President Donald Trump held his first major fundraiser for the general election season, with donations as high as $814,600. Trump’s campaign, along with the Republican National Committee, raised $65.6 million in March with $93.1 million in cash available for April. Biden had an advantage in fundraising due to a joint agreement with the Democratic National Committee, allowing him to accept larger checks.
Biden’s first-quarter fundraising total of $187 million was noted to be the best financial start of any Democratic presidential candidate in history. A New York City fundraiser last week, which featured Biden, former Presidents Bill Clinton and Barack Obama, raised $25 million. The campaign also raised $10 million in the 24 hours following Biden’s State of the Union address. Additionally, their small-dollar fundraising base and email list doubled from December to March, with small donations of $200 and less coming in at $1.5 million a day last month. This marked a significant increase in grassroots support for Biden’s campaign.
Trump, known for his loyal following from his time on the reality show “The Apprentice,” had been successful in raising small-dollar donations for the Republican Party in 2016 and 2020. However, with claims of the election being “stolen” from him in 2020, Trump raised millions through a leadership PAC called Save America. His fundraising totals have shown signs of donor fatigue, leading Trump to create the “Trump National Committee” to continue raising funds. Despite facing criminal prosecutions related to the Capitol attack on January 6, 2021, Trump has secured the GOP nomination and continues to fundraise for his campaign.
Trump faces federal criminal cases on conspiracy and obstruction charges related to the 2020 election, and a Georgia state prosecution for his attempts to overturn the election results. He also has a New York state prosecution for falsifying business records and a federal prosecution for not turning over documents from the White House. In a civil case, he was found liable for sexual abuse and defamation in an incident from the 1990s. Trump’s legal battles have not hindered his fundraising efforts, as he still has a loyal base of donors contributing to his campaign through various fundraising entities.
Biden’s campaign success in fundraising has provided him with a significant financial advantage as he gears up for the 2024 election. With large donation events and a growing grassroots base, Biden’s campaign has been able to maintain momentum in fundraising efforts. Trump, on the other hand, continues to rely on loyal donors to fund his campaign amidst legal challenges and controversies surrounding his presidency. The outcome of both campaigns will be determined in part by their ability to effectively raise funds and mobilize support leading up to the election.
