President Biden’s re-election campaign announced that it raised over $187 million in the first quarter of 2024, with a significant portion coming in March. They also have $192 million in cash on hand, which they claim is the highest total ever amassed by a Democratic candidate at this point in the campaign cycle. The majority of donations were under $200, with over 1.1 million donors making almost 1.9 million contributions. The campaign has also seen a significant increase in sustaining donors, with more than double the number compared to the 2020 cycle, pledging over $5.2 million in monthly contributions.
The fundraising efforts by Biden’s campaign are significantly outpacing those of former President Donald Trump, with the Biden campaign bringing in roughly $25 million more than Trump’s campaign in March alone. The Trump campaign raised $65.6 million in March and finished the month with $93.1 million in cash on hand. This is a significant increase over the $62 million raised by Trump in March 2020. The Biden campaign attributes its success to the critical work of building a winning operation, focusing on voters in key battleground states with offices, staff, and a media program meeting voters where they are.
The totals provided by the Biden campaign include all fundraising streams, such as the campaign, the Democratic National Committee, and joint fundraising committees. The campaign has received over 864,000 contributions from 704,000 unique donors in March alone. Their strategy is to reach out to a broad base of donors, with the majority of contributions being under $200. In contrast, the Trump campaign has been described as cash-strapped, using limited funds to pay off various legal fees, with the majority of donations coming from billionaires.
The Biden campaign highlighted the historic nature of the money they are raising and emphasized that it is going towards critical work in building a winning operation. They pointed out that their efforts are focused on reaching out to voters who will decide the election, with a significant presence in battleground states. This contrasts with the Trump campaign’s focus on funneling limited funds to pay off legal fees. The Biden campaign’s fundraising success reflects strong support from a broad base of donors, with a significant increase in sustaining donors compared to the previous campaign cycle.
Overall, President Biden’s re-election campaign is off to a strong start in terms of fundraising, with record-breaking numbers for a Democratic candidate at this point in the campaign cycle. The campaign has received support from over 1.1 million donors, with the majority of contributions being under $200. In contrast, the Trump campaign has raised less money in March, with a focus on using limited funds to pay off legal fees. The Biden campaign’s success in fundraising reflects a broad base of donors and a strategic focus on key battleground states, setting the stage for a competitive election in 2024.
