President Biden’s re-election campaign made a significant announcement that it had raised over $187 million in the first quarter of 2024, with over $90 million coming in March alone. The campaign also revealed it had $192 million in cash on hand, which is the highest total ever amassed by a Democratic candidate at this point in the election cycle. The majority of donations, totaling 96%, were under $200, coming from more than 1.1 million donors who made over 1.9 million contributions. Additionally, the campaign highlighted the fact that it now has more than 212,000 sustaining donors, double the amount at this point in the 2020 cycle, who have committed to more than $5.2 million in monthly contributions.
The Biden-Harris 2024 campaign expressed pride in the historic amount of money it had raised, stating that the funds would be used to build a winning operation focused on key battleground states and voters. The campaign manager, Julie Chavez Rodriguez, emphasized the stark contrast between Biden’s well-funded operation and Trump’s cash-strapped approach that is using limited resources to pay off legal fees. The total amount raised by the Biden campaign in March exceeded that of former President Donald Trump’s campaign by roughly $25 million. Trump and the RNC brought in $65.6 million in March and ended the month with $93.1 million in cash on hand, including funds from various fundraising committees. This figure significantly surpasses the $62 million raised by Trump in March 2020 during his re-election campaign.
The Biden campaign’s fundraising success is attributed to the support of over 1.1 million donors who contributed under $200, demonstrating a broad base of grassroots support. The campaign highlighted the importance of these donors in fueling their efforts to reach voters nationwide. In contrast, Trump’s campaign relies heavily on limited resources and wealthy donors to finance its operations, which are also burdened by legal expenses. The fundraising numbers for both campaigns indicate a significant disparity in financial resources that could impact their respective strategies and outreach efforts leading up to the election.
Biden’s campaign touted its fundraising success as a key factor in building a winning operation that focuses on engaging voters in critical battleground states. The campaign’s emphasis on sustaining donors, who have committed to monthly contributions, showcases a long-term investment in its organizational capacity and outreach efforts. The historic total raised by the campaign also reflects a strong level of grassroots support and enthusiasm for the Biden-Harris ticket. In contrast, Trump’s campaign faces challenges with limited resources and a reliance on wealthy donors to sustain its operations, which could impact its ability to compete effectively in the upcoming election.
The fundraising totals for both campaigns reveal a significant disparity in financial resources, with Biden’s campaign significantly outpacing Trump’s in terms of overall fundraising and cash on hand. The Biden-Harris 2024 campaign’s record-breaking fundraising efforts demonstrate a strong base of support and funding that will be crucial in building a winning operation to reach voters across the country. In contrast, Trump’s campaign faces challenges with financial constraints and legal fees that could impact its ability to effectively compete with Biden in the election. As the campaigns continue to raise funds and mobilize supporters, the financial resources available to each candidate will play a key role in shaping the outcome of the election in 2024.
