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    • Which Campaign Made More Money?
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    Which Campaign Made More Money?

    Harry Posted on

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    Vice President Kamala Harris’ campaign has given Democrats a lead in fundraising; Federal filings released ahead of Election Day show his campaign has raised nearly three times more money than Trump’s total so far, raising nearly $100 million in the first half of October alone as the campaign enters its final stretch.

    Basic Information

    Biden (now Harris) campaign committee raised $997.2 million and Trump’s campaign committee raised $388 million in the aggregate, between January 2023 and October 16, 2024, the latest date for which Federal Election Commission filings are available; $118 million And $36.2 million respectively in cash.

    Harris campaign came to the fore $97.2 million In the first half of October alone, the Trump campaign only $16.2 millionAfter Harris earlier rattled off a more even cash race (which Biden and Trump had boosted) $284.1 million And $217.2 million In total, respectively, as of the end of June).

    The Harris Victory Fund, which raises money for both Harris’ campaign and Democratic groups, has raised money $1.2 billion Between July 1 and October 16, according to the FEC filing It was published on Thursday.

    Trump National Committee JFC, which raises money for Trump’s campaign and the Republican National Committee taken in Only $375.3 million During the same period, the former president had a different joint fundraising committee, the Trump Committee of 47, which raised funds from larger donors. raised $327.5 million.

    Although Harris already had an edge over Trump in fundraising, her donations skyrocketed in September: NBC News He first reported that Harris and her committees passed this law. 1 billion dollars mark since entering the race based on his fundraising in September. $47 million The campaign reported a spike in the 24 hours after Harris’ Sept. 10 debate against Trump (the largest one-day haul since she entered the race) and lucrative fundraisers that reportedly took place last month in New York City and San Francisco. He stated that it was. $27 million And $28 million each.

    Harris’ campaign did not publicly report how much it spent in September before federal filings were released over the weekend, according to the New York Times. reporting He did not want to “brag” about his large donations and lull voters into complacency.

    Many top donors also fund independent political groups, such as super PACs, that are not bound by the FEC’s $6,600 per person limit for direct campaign donations; This is where Trump has a bigger cash advantage.

    FEC filings through Oct. 25 show super PACs spent approx. $533.7 million We’ve been supporting Harris since early July, while PACs have spent approx. $124.6 million He was supporting Trump at the same time.

    But FEC records show Trump’s biggest super PACs received more than Harris’ biggest funds: Top 10 super PACs supporting Trump, listed Collectively collected by the FEC for approx. $569.2 million Since the start of the 2023 election cycle (as of October 16) $535.5 million Raised by top 10 PACs support Harris.

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    Surprising Fact

    Harris’ billion-dollar earnings are likely the fastest a presidential candidate has reached ten figures, The New York Times reported. over a much longer period of time. Unnamed sources cited by the Times said Harris raised the billion dollars in less than 80 days. Harris and her affiliated groups combined generated $1 billion in the quarter between July and October alone; The Times reports It also broke the record for the most profitable fundraising quarter ever.

    How Do Harris’ Fundraising Increases Compare to Trump’s?

    Harris’ fundraising surge after she first announced her campaign surpassed the largest fundraising surge of the Trump campaign. Trump campaign reported Raised $52.8 million in 24 hours prisoner 34 felony charges were filed in Manhattan in May, leading to temporary use of the WinRed platform for small GOP donations to hit from traffic. This figure was soon surpassed by Harris with $81 million. raised in the first 24 hours of the campaign.

    What to Pay Attention to?

    Since the filings released by Thursday, Oct. 16 are the last FEC filings to be released before Election Day, it won’t be clear how much the candidates raised in the final days of their campaigns until after the election.

    How Much Do Parties Raise?

    Democrats are also outpacing Republicans at the party level; FEC filings through Oct. 16 show the Democratic National Committee is doing so. raised $538.8 million Republican National Committee this election cycle raised $390.2 million. Democrats increased their lead over Republicans in September. $98.7 million to republicans $37.8 million. But the GOP still had more cash on hand as of Oct. 16. $47.8 million against democrats 30 million dollars stack of cash.

    How Much Do Harris and Trump Spend?

    The Biden campaign, now Harris, has historically spent its cash earlier than Trump, reporting that through June it had spent $189.7 million compared to the Trump campaign’s $92.1 million. This trend has continued since Harris entered the race, along with Harris campaign spending $165.9 million Trump in the first half of October $99.7 million. Biden and Harris campaigns are now $880.2 million in total for this election cycle $354.9 million by Trump. Times reports The Trump campaign’s low spending may be by design, as filings show the campaign has funneled many traditional campaign expenses, such as payroll and venues for Trump’s campaign rallies, to other groups affiliated with the campaign and the RNC.

    Who do billionaires donate to?

    billionaires They pulled out the checkbooks of both candidates. Trump’s biggest donor is billionaire heir Timothy Mellonto whom was given a dazzling expression $150 million To support the former president. CEO of Tesla Elon Musk also almost gave $120 million To the pro-Trump America PAC, which reportedly ran much of the Trump campaign’s ground play and accounted for nearly all of the money the PAC received in the last quarter. Trump has about 50 more billionaire supportersincluding the wrestling mogul’s wife, Linda McMahon. Vince McMahon; energy manager Kelly Warren; ABC Supply founder Diane Hendricks; oil billionaire Timothy Dunn and prominent conservative donors Richard And Elizabeth Uihlein. After Biden withdrew billionaires like Michael Bloomberg and founder of LinkedIn Reid HoffmanHarris already I got support At least 76 wealthy philanthropists himself, including the co-founder of Netflix Reed Hastingsformer Meta COO Sheryl Sandberg and philanthropist Melinda French Doors. More than 100 venture capitalists signed letter Supports Harris’ candidacy on July 31 and promises to vote for her, including billionaires like entrepreneur Mark Cubaninvestor Vinod Khosla and founder of Lowercase Capital Chris Sacca.

    Tangent

    In addition to aiding his campaign, Trump’s donors also helped fund Trump’s personal legal bills through the PAC he leads. save americaIt was used to pay legal fees as the cases against him piled up. Trump’s campaign initially took money from small-money donors for its legal fund, siphoning 10% of every dollar raised through its website to Save America. That ended when Trump joined forces with the RNC in March, but the former president is now seeking help from bigger donors who gave to him Trump 47 Joint Fundraising Committee. Donations to this committee go first to Trump’s campaign (with a maximum contribution of $6,600 to campaign and recount efforts), and then donations of up to $5,000 go to Save America. The remaining money will go to the RNC and state parties only after that maximum level is reached.

    Key Background

    Harris entered the presidential race as Biden on July 21 announced He was leaving the race and minutes later endorsed the vice president. He quickly posted huge fundraising numbers when he entered the race; campaign reported $81 million in donations in the first 24 hours after launch, and the announcement of Minnesota Governor Tim Walz as the vice presidential candidate also fueled campaign fundraising. reporting He raised $36 million within 24 hours of his running mate being announced. Biden’s campaign committee was renamed after Harris dropped out and endorsed him, and although Trump has challenged it with the FEC, his challenge not expected To influence the election. His candidacy has reignited the presidential race as Biden faces mounting questions about his mental state and polls show Trump leading; The Vice President’s massive fundraising campaign reflected broader enthusiasm for Harris on the left, including an explosion on social media. memes and thousands activation for his campaign. Harris’ fundraising efforts come as Biden maintains his long fundraising lead over Trump throughout the campaign. That situation has narrowed further in recent months as Republicans ended their primaries and united around the former president, with Trump first overtaking Biden. April As he joins forces with the RNC and his criminal case continues.

    Further Reading

    ForbesHere Are Trump’s Top 10 Billionaire DonorsWith Leo Kamin
    ForbesBillionaires Loved Kamala Harris in 2020. How Many People Support Him in 2024?With Zach Everson
    ForbesThese Billionaires’ Donations Will Cover Trump’s Personal Legal BillsWith Alison Durkee
    ForbesThe True Story of Trump’s $75 Million BackerWith Phoebe Liu
    ForbesMore Billionaires Support Kamala Harris Than Trump (But Many Are Staying Silent)With Derek Saul

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