(Bloomberg) — President Joe Biden raised more than $90 million for his re-election campaign and the Democratic Party in March, topping Republican nominee Donald Trump and increasing his financial advantage.
According to a statement from Biden’s campaign, the president and his party ended March with $192 million in cash, the highest amount for a Democrat at this point in the calendar. That’s more than double the $93.1 million reported by Trump and the Republican Party late last month.
Biden has the largest total of small-dollar donors ever, breaking records set in each of the past four months. The campaign doubled the size of its mailing list and saw twice as much engagement from recipients of its emails and text messages.
Deep-pocketed donors also contributed, including $26 million raised by the campaign at an event for Biden and former Presidents Bill Clinton and Barack Obama in New York City last month.
Biden has raised more than $422 million since launching his re-election bid last April. As an incumbent with only nominal opposition in the primaries, he has been able to raise money for the general election. Meanwhile, Trump endured a costly primary season, beating out challengers including Florida Governor Ron DeSantis and former Ambassador to the United Nations Nikki Haley.
Read more: John Paulson’s Palm Beach event reflects Trump’s shift on donors
In March, 704,000 donors contributed $864,000, with Biden’s largest daily contribution raising $10 million after his State of the Union speech. A fundraising contest in New York City brought in $9.5 million from grassroots contributors.
“The amount of money we are raising is historic, and it is going toward the important work of building a winning campaign,” campaign manager Julie Chavez Rodriguez said in a statement. he said, pointing to increased staffing and pay in campaign offices across the country and in battleground states. Media program.
Biden is hoping to take advantage of Trump’s legal challenges, including four criminal indictments that have eaten up some of his war chests.
In a fundraising message Saturday, Biden’s campaign touted his small number of donors — a hallmark of Trump’s fundraising in the past — and said his opponent was collecting checks from “a few billionaires” in Florida “Who are looking for tax cuts.”
Trump, who began raising money with the Republican National Committee in mid-March, brought in $65.6 million but is set to raise more. An event in Palm Beach hosted by billionaire John Paulson on Saturday is expected to generate $43 million for Trump from contributors writing six-figure checks. Until he clinched the nomination and began raising money for the RNC and state parties, Trump could only accept $3,300 from individuals for his campaign. They can now take $814,600 per donor.
(Updated with White House fundraising message in last paragraph.)
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Published: 08 April 2024, 02:06 am IST
