WILMINGTON, Del. – President Joe Biden’s reelection campaign in conjunction with the Democratic National Committee revealed a substantial financial boost, announcing a fundraising total surpassing $90 million in March. As a result, the campaign concluded the first quarter with more than $192 million in cash, solidifying their financial edge over Donald Trump and the Republican Party.
During the January to March period, Biden’s campaign and associated entities amassed a notable $187 million in contributions, with 96% of donations being less than $200 each. A significant portion of this total stemmed from a fundraising event on March 28 at Radio City Music Hall in Manhattan, featuring former Presidents Barack Obama and Bill Clinton.
In contrast, Trump’s campaign disclosed a fundraising figure of $50.5 million from an event held at the Florida residence of billionaire investor John Paulson. Despite the difference in fundraising numbers, both parties are gearing up for the upcoming election.
The Biden campaign has utilized the influx of donations to fund extensive digital and television advertising efforts in crucial states, reinforcing their collaboration with the DNC and state parties to mobilize potential supporters ahead of the November election. As of March 31, the campaign’s cash reserve exceeded $192 million, marking a record-high for any Democratic candidate to date.
Furthermore, Biden’s campaign has continued to attract donations, with approximately 1.6 million individuals contributing since the president announced his re-election bid in April 2023. The campaign’s financial momentum was particularly evident following the president’s State of the Union address in early March, generating over $10 million in donations within 24 hours.
Campaign manager Julie Chavez Rodriguez emphasized the historic nature of the fundraising efforts, emphasizing the allocation of funds towards essential campaign operations nationwide. In contrast, Rodriguez criticized Trump’s financial situation, highlighting the incumbent’s reliance on limited and billionaire-funded resources to address legal fees.
Trump, who is currently facing multiple criminal indictments, reported a fundraising total of $65.5 million in March, with $93.1 million in available funds. Despite the financial gap between the two campaigns, Trump’s team remains confident in securing the necessary resources, downplaying concerns about fundraising disparities.
Overall, the contrasting fundraising figures between the Biden and Trump campaigns underscore the heightened enthusiasm for Biden’s presidency among donors, despite existing challenges and opponents. The financial landscape leading up to the election emphasizes the substantial support behind each candidate, shaping the competitive landscape for the upcoming campaign season.