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Biden and Democrats raised $72 million-plus for his 2024 race since he opened his campaign in April

by Andrew Wright
4 comments
campaign fundraising

President Joe Biden and the Democratic Party have garnered over $72 million in funds for his 2024 reelection campaign since he launched his bid in April, according to an announcement by his campaign on Friday. Although this is a significant amount, it falls short of the record-breaking numbers achieved by previous incumbents.

The $72 million encompasses all the contributions received between April 25, when Biden declared his candidacy, and the end of June. This figure includes donations made directly to his campaign as well as those made through joint fundraising efforts with national and state parties. By comparison, when President Barack Obama launched his campaign for a second term in 2011, he raised $85.6 million during the April-to-June quarter, albeit with an earlier April announcement compared to Biden’s.

In 2019, then-President Donald Trump and the Republican National Committee jointly raised $105 million during the second quarter, surpassing Biden’s numbers by approximately $80,000 per day. However, it should be noted that Biden faced higher campaign finance donation limits due to inflation, allowing for a more substantial contribution potential. Nonetheless, Biden’s campaign expressed satisfaction with the amount raised, highlighting their intention to avoid reaching the maximum donation limit from their most enthusiastic supporters, as Trump did in 2020 when he encountered fundraising challenges in the final months of his campaign.

The campaign also reported that Democrats currently possess $77 million in available funds, the largest sum ever amassed by a Democrat at this stage in an election cycle.

Despite having cleared the path of any significant contenders for the Democratic nomination, Biden has faced ongoing concerns within his party regarding voter enthusiasm for an 80-year-old candidate. The fundraising figure is expected to allay some of these concerns, but not entirely eliminate them. It remains uncertain whether Biden can gather the necessary support for a successful campaign, although his 2020 election effort surpassed $1 billion in donations.

Surveys indicate that Democrats prefer an alternative candidate to run, but there is no consensus within the party regarding a suitable option.

Democratic donor Robert Wolf expressed enthusiasm, stating, “This is fantastic. The calls I was getting before they announced were: ‘Is he going to beat Trump? Is he going to beat (Florida Gov. Ron) DeSantis?’ And he blew them out of the water.”

Biden’s fundraising total for the three-month period exceeded twice that of Donald Trump’s for his 2024 campaign. However, as the former president and other Republicans are not jointly raising funds with the GOP, they face lower federal contribution limits for their top donors.

The Biden campaign did not disclose the exact amount directly raised by his campaign, which would provide a more direct comparison with the Republican candidates. Additionally, details about the campaign’s spending in the initial months, although the staff size remains relatively small, were not revealed. These figures are scheduled to be reported to the Federal Election Commission on Saturday.

Biden’s campaign manager, Julie Chavez Rodriguez, stated, “While Republicans are burning through resources in a divisive primary focused on who can take the most extreme MAGA positions, we are significantly outraising every single one of them – because our team’s strength is our grassroots supporters.”

Throughout the quarter, President Biden, First Lady Jill Biden, Vice President Kamala Harris, and her husband, Doug Emhoff, intensified their fundraising efforts to ensure a strong showing. They organized 38 fundraisers since the campaign’s launch, with the pace expected to increase as the campaign progresses.

The campaign revealed that the total funds were derived from nearly 400,000 donors, with 97% of donations falling below $200. Furthermore, more than 30% of the donors had not contributed to Biden’s campaign in 2020. The campaign’s email list has grown to nearly 25 million subscribers.

A grassroots fundraising initiative, offering supporters the opportunity to meet the president, generated nearly $2 million from small donors. Additionally, merchandise featuring the “Dark Brandon” meme, portraying Biden with laser eyes, has accounted for half of the campaign’s online store revenue.

Frequently Asked Questions (FAQs) about campaign fundraising

Q: How much money did Biden and the Democrats raise for his 2024 race?

A: President Joe Biden and the Democratic National Committee raised over $72 million for his 2024 reelection campaign in the 10 weeks since he announced his candidacy in April.

Q: How does Biden’s fundraising compare to previous incumbents?

A: Biden’s fundraising falls short of the record-breaking amounts raised by previous incumbents. President Barack Obama raised $85.6 million during the same quarter in 2011, while then-President Donald Trump and the Republican National Committee jointly raised $105 million in 2019.

Q: How were the funds raised by Biden and the Democrats?

A: The funds include donations made directly to Biden’s campaign as well as contributions through joint fundraising arrangements with national and state parties.

Q: What is the current amount of funds available to Democrats?

A: Democrats currently have $77 million on hand, which is the highest total ever by a Democrat at this stage in an election cycle.

Q: How were the majority of donations distributed?

A: 97% of donations received were under $200, indicating a strong support base of grassroots donors.

Q: Did Biden’s campaign disclose the exact amount raised directly by his campaign?

A: No, the exact amount directly raised by Biden’s campaign was not disclosed. Those figures are set to be reported to the Federal Election Commission.

Q: Are there concerns within the Democratic Party about Biden’s voter enthusiasm as an 80-year-old candidate?

A: Yes, there are persistent concerns within the party about voter enthusiasm for Biden as an older candidate. However, the fundraising numbers are expected to alleviate some of these concerns.

Q: How many donors contributed to Biden’s campaign?

A: The campaign received contributions from nearly 400,000 donors, with more than 30% of them being first-time donors to Biden’s campaign.

Q: What were some notable fundraising efforts by Biden and his team?

A: Biden, First Lady Jill Biden, Vice President Kamala Harris, and her husband, Doug Emhoff, held 38 fundraisers during the quarter to generate support. A grassroots fundraising pitch offering the chance to meet the president raised nearly $2 million from small donors.

Q: How is Biden’s campaign leveraging merchandise sales?

A: Merchandise featuring the “Dark Brandon” meme, depicting Biden with laser eyes, has accounted for half of the campaign’s online store revenue.

More about campaign fundraising

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4 comments

PoliticalJunkie July 15, 2023 - 7:26 am

lol dems still worry about biden’s voter enthusiasm! but those fundraising numbers should calm ’em down a bit. lots of small donors, go grassroots! can’t wait for the GOP rival to amp up the fundraising game!

Reply
NewsAddict101 July 15, 2023 - 4:23 pm

interesting, biden didn’t share the direct campaign amount, but FEC will know soon! wondering how much they spent tho, and how big is the campaign staff? gotta be small. anyway, dark brandon merchandise making bank, who would’ve thought?

Reply
BidenSupporter23 July 15, 2023 - 11:53 pm

wow biden raised 72 mill for his 2024 race! pretty impressive, but not as much as Obama in 2011 or Trump in 2019! dems got 77 mill on hand tho, highest ever! grassroots donors rock!

Reply
PartyObserver July 16, 2023 - 1:50 am

biden’s fundraising may not break records, but still decent. dems need all the support they can get for the 2024 campaign. gonna be interesting to see if anyone challenges biden, surveys show dems want someone else. can’t wait for the primaries!

Reply

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