On Tuesday, July 2nd, Joe Biden’s reelection campaign team and the Democratic National Committee (DNC) reported that they had raised $264 million in funds in the second quarter of this year.
The total amount raised, announced on Tuesday, July 2nd, includes $127 million raised just in the month of June. The campaign team announced that they raised over $33 million on the day of the debate (June 27) and thereafter. Currently, Biden has $240 million in cash on hand, exceeding the $212 million reported last month.
Julie Chavez Rodriguez, Biden’s campaign manager, stated that these numbers “prove that the solid support team for the president is continuously growing.”
The impressive fundraising performance of Biden’s campaign team may help alleviate some Democrats’ disappointment with the debates. Biden campaign officials insist that there has been “no discussion whatsoever” about Biden withdrawing from the race, and there have been no personnel adjustments.
Biden’s second-quarter fundraising total was boosted by a lavish fundraising event held in Los Angeles in June, co-hosted by superstars George Clooney, Julia Roberts, and former President Barack Obama. The event raised over $30 million, setting a new record for fundraising by a Democratic candidate.
The campaign team disclosed that after the debate, nearly half of the donations came from first-time donors. They also stated that 95% of the donations in the second quarter were $200 or less, with over 1.5 million donors contributing a total of over $28 million. Currently, the campaign team has 314,000 donors, an increase of nearly 100,000 from the end of the first quarter in March 2024.
Jaime Harrison, Chairman of the DNC, said, “grassroots donors from across the country are donating every day because they know this election will determine the course of history.”
Former President Donald Trump has not yet announced the total quarterly fundraising amount for his campaign team and affiliated entities, but a spokesperson stated that they will release it when “ready.”
Although Biden initially enjoyed a larger fundraising advantage over Trump in the early stages of the campaign, in recent months, the former president has been gradually narrowing the gap.
The fundraising total for the second quarter announced by Biden and the DNC on Tuesday shows that in April, they raised over $51 million, far below the $76 million reported by Trump and the Republican party for the same month.
Furthermore, Trump’s team reported raising $141 million in funds in May, due to a steady stream of tens of millions of dollars pouring in after a guilty verdict was delivered in Trump’s “hush money” criminal trial.
The former president is set to officially accept the Republican presidential nomination at the Republican National Convention to be held in Milwaukee, Wisconsin later this month.
(Reference: Associated Press)