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Biden and Democrats Garner Over $71 Million for 2024 Campaign in Third Quarter

by Ryan Lee
6 comments
2024 New Hampshire Primary

President Joe Biden, along with the Democratic National Committee, accumulated upwards of $71 million for his 2024 reelection bid in the quarter ending September 30. This robust financial support suggests that party backers are cohesively rallying behind him, as he potentially faces a rematch with Donald Trump in the 2024 elections.

The financial data was unveiled on Sunday, following a prior announcement that the Biden campaign and the Democratic Party had secured over $72 million in a 10-week period that spanned from Biden’s official campaign kickoff on April 25 to the conclusion of Q2 on June 30.

These figures encompass contributions not only to Biden’s campaign but also to an intricate web of collaborative fundraising mechanisms involving both national and state-level Democratic organizations. The Democratic Party revealed that as of the end of September, they had $91 million readily available—setting a new record for any Democrat at this juncture in an electoral cycle.

Julie Chavez Rodriguez, who manages Biden’s reelection campaign, declared in an official statement that “the considerable funds raised this quarter, along with the unprecedented cash reserves, underscore the tangible enthusiasm and backing for Biden. This financial fortitude enables us to execute a vigorous campaign aimed at a victory in November 2024.”

While Biden’s fundraising is impressive, it has not surpassed that of his Democratic predecessor, Barack Obama, who secured $85.6 million in collaboration with affiliated Democratic bodies during the second quarter of 2011. It’s noteworthy that Obama had a three-week head start in announcing his reelection campaign compared to Biden in 2023.

During the same period in 2011, Obama and affiliated Democratic committees managed to raise approximately $70 million—nearly parallel to Biden’s 2023 figures even without adjusting for inflation.

Meanwhile, Donald Trump’s 2024 campaign revealed last week that it had raised more than $45.5 million for the quarter ending September 30, doing so without support from the national GOP or any affiliated committees. Despite facing four indictments and a total of 91 criminal charges, Trump’s fundraising efforts remain robust and he has solidified an early lead over other contenders in the 2024 Republican primary.

For context, in 2019, Trump, along with related entities and the Republican National Committee, raised a staggering $125 million in that year’s third quarter. Biden’s team has noted that they are taking a cautious approach to fundraising, intentionally not maximizing contributions from their most ardent donors to avoid any future shortfalls, a lesson apparently learned from Trump’s 2020 campaign.

To date, Biden has held a single campaign rally in Philadelphia with some of the nation’s largest labor unions. His campaign has leaned heavily on the DNC to underwrite many of its initial expenditures while also strengthening state parties. Jaime Harrison, Chair of the DNC, stated, “We are actively constructing the framework needed to effectively communicate our message to the electorate.”

For now, Biden’s campaign is largely focused on fundraising and cost-efficiency. However, it recently rolled out a 16-week, $25 million advertising initiative that aims at swing states, emphasizing a range of issues from defending abortion rights to reducing prescription drug costs.

The campaign has noted that a significant chunk of its Q3 fundraising was allocated to this advertising spend. They anticipate a surge in donations as the 2024 election approaches.

Biden’s campaign faces relatively little opposition in the Democratic primaries, particularly with Robert F. Kennedy Jr. opting for an independent presidential run. However, questions surrounding voter enthusiasm persist due to Biden’s relatively low approval ratings and concerns about his age—he would be 86 years old at the conclusion of a second term, should he secure one.

In total, the campaign has revealed that more than 493,000 contributors made 843,000 donations to all Biden and Democratic entities over the last quarter. The donations largely consisted of small contributions, with 97% being under $200. The donor base is geographically diverse, spanning all 50 states, according to the campaign.

Frequently Asked Questions (FAQs) about Biden 2024 Fundraising

How much did President Joe Biden and the Democratic National Committee raise for the 2024 campaign in the third quarter?

President Joe Biden and the Democratic National Committee collectively raised over $71 million in the third quarter of 2023 for Biden’s 2024 reelection campaign.

How does Biden’s fundraising compare to that of his predecessor, Barack Obama?

Biden’s Q3 fundraising totals are robust but have not surpassed Barack Obama’s 2011 Q2 fundraising figure of $85.6 million. Both presidents had nearly parallel fundraising totals for the respective third quarters of their reelection campaign years.

What is the focus of Biden’s campaign strategy according to the information provided?

The campaign has emphasized fundraising and cost-efficiency. They recently launched a 16-week, $25 million advertising campaign aimed at swing states, focusing on issues like abortion rights and prescription drug costs.

How much has Donald Trump raised for the 2024 campaign in comparison?

Donald Trump’s 2024 campaign announced last week that it raised more than $45.5 million for the quarter ending September 30, 2023, without the support of national GOP or affiliated committees.

What is the Biden campaign’s approach to fundraising?

The Biden campaign is taking a cautious approach, aiming not to maximize contributions from their most ardent donors to prevent any future financial shortfalls. The campaign has placed a strong emphasis on fundraising, particularly in Q3, which included a large portion of a $25 million ad buy.

Who are Biden’s primary challengers within the Democratic Party?

Biden faces relatively little internal opposition within the Democratic primaries. Robert F. Kennedy Jr. recently exited the race and announced he would run for president as an independent.

How has the Biden campaign utilized the Democratic National Committee (DNC)?

Biden’s campaign has leaned heavily on the DNC to underwrite many of its initial expenditures, helping to strengthen state Democratic parties as well. Jaime Harrison, Chair of the DNC, stated they are actively building the necessary infrastructure.

How many individual contributors has the Biden campaign attracted, and what percentage of donations were under $200?

The Biden campaign has garnered more than 493,000 individual contributors who made a total of 843,000 donations in the last quarter. About 97% of these donations were under $200.

When does the Biden campaign expect donations to rise sharply?

The Biden campaign anticipates a significant uptick in donations starting next summer as the 2024 election nears.

More about Biden 2024 Fundraising

  • Biden’s Official Campaign Website
  • Democratic National Committee Financial Reports
  • Federal Election Commission Quarterly Filings
  • Donald Trump 2024 Campaign Financial Disclosure
  • Historical Campaign Finance Data: Obama vs. Trump
  • Current 2024 Election Polls
  • Robert F. Kennedy Jr. Independent Presidential Run Announcement
  • Analysis of Swing State Advertising Budgets in Presidential Campaigns
  • Trends in Campaign Contributions Under $200
  • Biden’s Approval Rating and Age Concerns: An Overview

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6 comments

Ella_R October 15, 2023 - 5:03 pm

Those fundraising totals r no joke. Gotta say, Biden’s campaign is doin something right to get those numbers.

Reply
MikeP October 16, 2023 - 2:01 am

So the Dems are all in for Biden huh. But what about the questions over his age? seems like an important factor.

Reply
SarahK October 16, 2023 - 4:14 am

Ok so Trump’s still pulling in money despite legal troubles, interesting. makes you wonder about his donor base.

Reply
JamesT October 16, 2023 - 7:58 am

Wow, those are some impressive numbers! But isn’t Biden’s fundraising still less than Obama’s back in the day? Just asking.

Reply
Dan_Q October 16, 2023 - 12:16 pm

Wonder what the big advertising push will actually achieve. Targeting swing states is smart but it’s a long road ahead.

Reply
LindaC October 16, 2023 - 12:18 pm

Good on Biden for not maxing out donors. It’s like they learned something from Trump’s mistakes in 2020.

Reply

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