Since President Joe Biden officially launched his campaign for the 2024 elections, he and the Democratic National Committee have amassed over $72 million in just ten weeks. The Biden campaign disclosed this financial achievement.
The funds were raised from April 25, the day Biden announced his candidacy, until the end of June. The total includes donations directly to his campaign and those made to a series of cooperative fundraising arrangements with national and state parties. Former President Barack Obama, by contrast, raised $85.6 million during the April-June quarter in 2011 when he began his second term campaign. However, he made his announcement three weeks earlier in April than Biden did.
Despite Biden’s successful fundraising efforts and his uncontested position as the Democratic nominee, concerns within the party persist regarding voter enthusiasm for an 80-year-old candidate.
Compared to Biden’s total, the fundraising for Donald Trump during the same three months was less than half. This is partially because Trump, along with other Republican candidates, isn’t engaged in a combined fundraising effort with the Republican party, thereby facing lower federal contribution limits for high-end donors.
The Biden campaign hasn’t provided specifics about the total amount raised directly by the campaign, which would allow for a more direct comparison to the Republican candidates. This figure is expected to be submitted to the Federal Election Commission on Saturday.
Biden’s campaign manager, Julie Chavez Rodriguez, stated in response to their fundraising success, “While Republicans are expending resources on a contentious primary centred around the most extreme MAGA viewpoints, we are outpacing all of them significantly – our team’s strength comes from our grassroots supporters.”
According to the campaign, the fundraising total originated from nearly 400,000 donors, with 97% of donations under $200 and more than 30% of donors who hadn’t previously contributed to Biden in 2020.
This impressive fundraising momentum indicates a strong start for Biden’s 2024 reelection bid. Despite his age-related challenges and comparisons to his predecessors, the numbers reflect robust grassroots support and significant donor base expansion. As Republicans grapple with divisive primaries, Biden’s unified front presents a powerful counter-narrative. The ensuing months will reveal if this early financial advantage translates into electoral success.
