How much money have Trump and Biden raised for the election? As the fight for the presidency in the United States heats up, contenders from both the Democratic and Republican parties are hurrying to build their war chests ahead of the primary and general election campaigns.
Despite the fact that the primary season has yet to begin, incumbent President Joe Biden leads all contenders, according to finance declarations given to the US Federal Election Commission for the second quarter of 2023, which concluded in June, according to Bloomberg.
How much money have Trump and Biden raised for election?
Joe Biden
In a statement, the campaign for US President Donald Trump’s re-election in 2024 announced it had raised $72 million in the second quarter.
According to Bloomberg, the US president has raised more than $1 million every day on average since launching his re-election campaign. The amount raised is far greater than that of his former boss, Barack Obama.
Joint fundraising agreements between Biden’s campaign, the Democratic National Convention (DNC), and state parties were a crucial element in the US president raising such large sums. The arrangement allows Biden to receive significantly larger sums of money than his Republican opponents.
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The maximum gift to the Biden Victory Fund is $929,600, well beyond the $3,300 individual contribution limit for single campaigns that are not part of a larger agreement with the party.
Amid Biden’s donors include ChatGPT maker OpenAI’s Chief Executive Officer Sam Altman, LinkedIn co-founder Reid Hoffman, actor and writer Seth MacFarlane, and fashion designer Michael Kors.
Donald Trump
According to Bloomberg, Biden’s predecessor, Donald Trump, who is attempting to reclaim the White House, has raised more than $35 million through small donations in the second quarter despite the legal obstacles he faces.
According to Bloomberg, the monies were raised through the Trump Save America Joint Fundraising Committee, although not all of the money must go to the former president’s campaign.
Even though the primary season is yet to start, Trump is the frontrunner for the Republican nomination with 53% support in the RealClearPolitics average of national polls, reported Bloomberg.
Ron DeSantis
The governor of Florida, Ron DeSantis, raised more than $20 million in the second quarter, but he remains a distant second to Trump in the Republican nomination campaign, with surveys showing him averaging 20.6% support.
Among his supporters are billionaires Kelcy Warren, chairman of Energy Transfer, Kenneth Langone, co-founder of Home Depot, and Harlan Crow, the conservative billionaire who gave US Supreme Court Justice Clarence Thomas and his family lavish trips and private real estate dealings.
Nikki Haley
Former US ambassador to UN Nikki Haley has raked in $26 million, in the outgoing quarter, including $7.3 million in direct donations. But the former envoy is yet to make a mark in the polls and is hovering around 3%.
Mike Pence
Trump’s vice president Mike Pence is way behind in the race and has only been able to raise less than $1.2 million. But it has only been 24 days since he announced his bid for the White House.
Vivek Ramaswamy
Biotech entrepreneur and Indian descent Republican hopeful Vivek Ramaswamy took in $7.7 million in the second quarter, including $5.4 million that was paid by himself, reported Bloomberg.
As per the publication, the businessman has spent $16 million of his own money since he announced his candidacy.
Tim Scott
South Carolina Senator Tim Scott has managed to raise $6.1 million in only 40 days since he announced his candidacy.
Doug Burgum
Governor of US state North Dakota Doug Burgum, who’s largely self-financing his long-shot presidential campaign, raked in $11.7 million during the second quarter. But $10.2 million of the money raised was put in by the governor himself.
Chris Christie
Former governor of the US state of New Jersey and a Trump critic Chris Christie has accumulated over $1.6 million in the second quarter, reported Bloomberg citing a press release from his campaign.
Robert F Kennedy Jr.
So far, Robert F. Kennedy Jr., who aspires to oppose President Joe Biden in the Democratic primary, has raised over $6.4 million.
The Democrat is the son of former US President Robert F. Kennedy and has been involved in spreading misinformation and conspiracy theories. However, few people consider Kennedy as a challenge to Biden.
Among Kennedy’s supporters are Airbnb Inc. co-founder Joseph Gebbia and Bill Ackman, founder of Pershing Square Capital Management.
Marianne Williamson
Marianne Williamson, a longshot Democratic candidate, has managed to only raise close to $921,000 in the second quarter.
