Donald J. Trump and the Republican National Committee raised $141 million in May, with a significant increase in fundraising attributed to the former president’s criminal conviction. This fundraising effort will help Trump close the financial gap between him and President Biden as he continues his quest for reelection. The $141 million matched what Biden and the Democratic Party raised in March and April combined, indicating Trump’s strong fundraising performance in 2024. The funds raised include hard dollars that can be spent directly by the Trump campaign and the RNC, as well as additional cash secured by outside groups supporting Trump.
Lara Trump, the RNC co-chairwoman and Trump’s daughter-in-law, stated that $70 million was raised in the 48 hours following Trump’s conviction, contributing significantly to the total amount. The reported $141 million includes funds raised by the Trump campaign and the RNC, while outside groups supporting Trump also raised an additional $150 million. These outside groups cannot coordinate spending with the campaign and may be seen as less efficient in terms of fundraising. While specific information on monthly fundraising for pro-Trump super PACs was not disclosed, newer groups such as Right for America have shown early fundraising success.
Trump’s fundraising performance has seen a significant improvement since becoming the presumptive Republican nominee, with a strong increase in fundraising since his criminal conviction. Trump and his allied groups outpaced Biden and his groups in April, and the campaign reported raising nearly $53 million online in the 24 hours following Trump’s conviction, contributing to the May fundraising total. Biden’s campaign declined to provide fundraising numbers for the president and his allied groups, indicating a potential disadvantage in fundraising compared to Trump.
In addition to grassroots support, Trump has successfully attracted major Republican donors who previously did not support him during the primary race. Billionaire venture capitalist Doug Leone, who had renounced Trump after the Capitol riot in January 2021 and supported Gov. Ron DeSantis during his presidential campaign, announced that he would back Trump again. Trump’s ability to attract both grassroots and high-profile donor support has strengthened his fundraising efforts and may help him compete with Biden financially in the upcoming election.
While Trump’s campaign reported a strong fundraising performance in May, the exact figures will not be verified until federal filings are released publicly. The $141 million raised represents Trump’s strongest single month of fundraising in 2024. Trump’s ability to attract significant support following his criminal conviction highlights the continued enthusiasm among his base and major donors. As the financial gap between Trump and Biden narrows, the 2024 election is shaping up to be highly competitive in terms of fundraising and resources for both campaigns.
