• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy Biden rakes in big bucks last month, but haul is far short of Trump’s massive May fundraising
Economy

Biden rakes in big bucks last month, but haul is far short of Trump’s massive May fundraising

by June 21, 2024
by June 21, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

President Biden’s 2024 re-election campaign and the Democratic National Committee raised a combined $85 million in May, which is their second-best month of fundraising this election cycle.

But the money raised by Biden and the DNC is far short of the staggering haul raised by former President Trump’s campaign and the Republican National Committee last month.

In announcing their May fundraising figures on Thursday evening, the Biden campaign also highlighted that they had a massive $212 million cash-on-hand as of the end of May. 

‘Our strong and consistent fundraising program grew by millions of people in May, a clear sign of strong and growing enthusiasm for the President and Vice President every single month,’ Biden campaign manager Julie Chavez Rodriguez said in a statement. 

Biden’s announcement came on the final day the presidential campaigns had to file their May fundraising figures with the Federal Election Commission (FEC).

But the Trump campaign didn’t wait for the deadline to tout its May fundraising haul.

The former president’s campaign announced two and a half weeks ago that they and the RNC, fueled in part by the former president’s guilty verdicts in his criminal trial, combined hauled in a stunning $141 million in fundraising in May.

That was up from the $76 million they raised in April when they topped President Biden and the Democratic National Committee for the first time in their 2024 election rematch. 

Spotlighting their grassroots appeal, the Trump campaign said that the average dollar donation was $70.27 with 25% of the donors in May being first time contributors to the former president’s 2024 run.

The Trump cash announcement came in the wake of what his campaign showcased as ‘record-shattering’ fundraising immediately after he was found guilty of all 34 felony counts in the first trial of a former or current president in the nation’s history.

The former president’s campaign highlighted that in the first 24 hours following Thursday evening’s verdict, they and the RNC hauled in nearly $53 million in fundraising, which counted towards May’s total. 

The Biden campaign also raised funds off of the Trump verdict, and a source familiar told Fox News that ‘the 24 hours after the verdict were one of the best fundraising 24 hours of the Biden campaign since launch.’

Biden’s May haul came without any major fundraising events headlined by the president. The Biden campaign says that a majority of its May fundraising came from grassroots donors. 

The campaign has been using its funds to build up what appears to be a very formidable ground operation in the key battleground states and announced hours earlier on Thursday that they had hired their 1,000 staffer. The Biden campaign enjoys a large organizational advantage over team Trump when it comes to grassroots outreach and get-out-the-vote ground game efforts.

‘The money we continue to raise matters, and it’s helping the campaign build out an operation that invests in reaching and winning the voters who will decide this election,’ Chavez Rodriguez highlighted.

Biden’s campaign appears to enjoy a large cash-on-hand advantage over Trump, whose campaign didn’t report their cash-on-hand amount in announcing their May fundraising. The campaigns are not legally required to report those figures until the end of July, following the close of the second quarter of fundraising.

Biden enjoyed a $146 million to $88 million cash-on-hand advantage over Trump at the end of March, following the close of the first fundraising quarter of the year.

Trump has been aiming to close his fundraising gap with Biden, who had regularly been outpacing Trump in monthly fundraising.

Trump’s April haul was boosted by a record-setting $50.5 million that the former president’s campaign raked in at a single event early in the month with top dollar GOP donors that was hosted at the Palm Beach, Florida home of billionaire investor John Paulson.

Both candidates have held top dollar fundraising events so far in June.

The president set a new Democratic Party fundraising record – according to his campaign – as he hauled in over $30 million at a star-studded fundraiser on Saturday in Los Angeles with former President Obama, Hollywood heavyweights George Clooney and Julia Roberts, and late night TV talk show host Jimmy Kimmel.

And he brought in $8.1 million at a fundraiser at the Northern Virginia home of former Gov. Terry McAuliffe, where he was also joined by former President Bill Clinton and former Secretary of State and former Sen. Hillary Clinton, who was the Democrats’ 2016 standard-bearer.

Meanwhile, Trump’s team touted that they hauled in roughly $27.5 million during a fundraising swing by the former president in California and Nevada a week ago.

Fundraising, along with public opinion polling, is a key metric used to measure the strength of a candidate and their campaign. Money raised can be used to build up grassroots outreach and get-out-the-vote operations, staffing, travel and ads, among other things.

This post appeared first on FOX NEWS
You Might Also Like
  • Debt ceiling agreement in principle reached between Democrats, Republicans
  • What Trump and an LA dive bar share is what Kamala Harris desperately needs
  • Minnesota Gov. Walz makes Juneteenth state holiday, bans ‘hair discrimination’
  • Retail Investors Boost Nvidia Stock Amid AI Shakeup
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Deja Dot.com Disaster?
next post
Bloomberg shells out millions to help Biden battle Trump in 2024 presidential election rematch

You may also like

Jim Jordan loses in first round of House speaker vote

October 18, 2023

White House quietly walks back Biden’s comment on adding conditions...

December 1, 2023

RFK Jr. remains thorn in Biden’s side as 2024 polls...

May 27, 2023

Maine House votes to enact bill that expands access to...

June 28, 2023

AOC suggests cutting off aid to Israel after U.S. vetoes...

February 23, 2024

South Dakota’s Kristi Noem takes action on Second Amendment as...

April 19, 2023

Black conservatives rally around Kari Lake for refusing to stand...

February 16, 2023

Graham slams soft-on-crime Bragg for targeting Trump while New Yorkers...

March 19, 2023

DCCC gives talking points to House Dems amid Jordan’s bid...

October 18, 2023

White House says Trump’s tariffs will destroy manufacturing, exacerbate inflation

June 15, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025
    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Who wants to tear down Mt....

    January 20, 2023

    Moderate Paul Vallas, leftist-backed Brandon Johnson...

    April 4, 2023

    Former Trump comms director tells his...

    December 9, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here