The Hill
President Biden‘s early fundraising advantage has vanished.
Former President Trump has been raking in the cash since his May conviction, notably bringing in $53 million in the hours after he was found guilty on 34 felony counts of falsifying business documents.
The Hill’s Brett Samuels breaks down the numbers:
April fundraising
- Trump/RNC – $76 million
- Biden/DNC – $51 million
May fundraising
- Trump/RNC – $141 million
- Biden/DNC – $85 million
Cash on hand
- Trump/RNC: $171 million
- Biden/DNC: $157 million
Keeping perspective: Despite falling behind in fundraising for two consecutive months, the Biden campaign is still raking in money, helped by tens of millions of dollars in donations from big-name backers.
The campaign used its early fundraising advantage to plow money into ad campaigns, infrastructure and staff in the swing states that will be critical in determining the outcome of the election.
Democrats also question how much of Trump’s money will go to his legal defense, rather than to campaign operations.
Still, Trump’s recent fundraising blowouts are indicative of how his convictions have rallied his supporters.
The Federal Election Commission filings from late Thursday night don’t even capture the full picture of the hundreds of millions of dollars sloshing around the election economy.
- Billionaire Timothy Mellon donated $50 million to a pro-Trump super PAC the day after Trump’s guilty verdict. The PAC has announced plans to spend $100 million in four battleground states before Labor Day. Mellon has also tossed millions to Robert F. Kennedy Jr.’s campaign.
- The Winklevoss twins announced Friday they’d donate $1 million in bitcoin each to the Trump campaign, saying Biden’s policies have been bad for crypto.
- Former New York City Mayor Mike Bloomberg cut a $19 million check to a pro-Biden super PAC.
- Biden’s numbers this month don’t include the estimated $30 million haul from a glitzy Hollywood fundraiser earlier this month with former President Obama, Jimmy Kimmel, George Clooney and Julia Roberts, among many others.
Read more:
- The Washington Post: Trump’s donations surge could reshape race.
- The Hill: Biden allies fundraising to compete with Trump social media success.
- The Wall Street Journal: Biden pours millions into a state Democrats haven’t won since 2008.