President Biden’s 2024 reelection campaign and the Democratic National Committee have raised more than $250 million combined over the past three months, Biden’s team announced early Tuesday.
The campaign also touted that it raised $264 million in fundraising from April through June in the second quarter of 2024, including $127 million in June alone, which it touted as its best fundraising month since launching his re-election bid more than a year ago.
The announcement comes as Biden’s campaign seeks to reverse the negative tone presented during his first debate with former President Trump last week.
Biden’s June fundraising total surpassed the roughly $85 million his campaign and the Democratic National Committee raised in May, and his campaign also highlighted that its second-quarter fundraising total was $75 million more than it had raised in the first three months of the year.
Biden tries to reverse the horrific narrative that emerged from the first debate
President Joe Biden reacts after speaking at a campaign rally in Raleigh, N.C., Friday, June 28, 2024. (AP Photo/Matt Kelley) (AP Photo/Matt Kelly)
The company also touted that it had $240 million in cash on hand at the end of June, up from $212 million the previous month.
A large chunk of the money in June came at a star-studded fundraiser in Los Angeles that included former President Barack Obama, Hollywood heavyweights George Clooney and Julia Roberts, and late-night TV talk show host Jimmy Kimmel. The campaign announced after the event that it had raised $30 million, setting a new record for Democratic fundraising.
Biden’s Democratic nomination, which will be decided by virtual roll call, could take place as early as this month.
The president also raised more than $8 million a few days later at a fundraiser at the mansion of former Northern Virginia Gov. Terry McAuliffe, which was attended by Biden, former President Bill Clinton and former Sen. Hillary Clinton, the former secretary of state and 2016 Democratic standard-bearer.
But the biggest boost to its June fundraising totals came from what the campaign said was $33 million raised between Thursday and Saturday of last week — the day of the first presidential debate and the two days after. The Biden campaign also touted its biggest fundraising moment of the campaign in the week immediately following the debate with Trump in Atlanta, Georgia, between 11 pm ET and midnight on Thursday.
President Joe Biden (R) and former President Donald Trump participate in the first of two debates leading up to the 2024 general election on June 27, 2024 in Atlanta, Georgia. (Andrew Harnick/Getty Images)
The Biden campaign is focusing on fundraising before and after the debate, hoping to change the brutal debate that took place last week after the 81-year-old president’s awkward delivery and halting answers sparked widespread panic within the Democratic Party and prompted calls from political pundits, commentators, some party politicians and donors for Biden to step down as the party’s nominee in 2024.
The campaign also showcased its grassroots appeal, noting that roughly two-thirds of its fundraising in June came from small donors, and that of the $38 million raised in the final days of the month, more than $30 million came from grassroots donors.
“Our second quarter fundraising numbers are a testament to the passionate and growing supporters who stand steadfastly behind the President and Vice President, and clear evidence that voters understand the choice they have in this election between a President Biden fighting for the American people, and Donald Trump fighting for himself as a convicted felon,” Biden said. Campaign Manager Julie Chavez Rodriguez said in a statement.
President Joe Biden and First Lady Jill Biden walk off stage after a campaign rally in Raleigh, North Carolina, on June 28, 2024. (Mandel Ngan/AFP via Getty Images)
“Grassroots donors across the country are giving every day because they know this election will determine the course of history,” said Democratic National Committee Chairman Jaime Harrison.
The Biden campaign waited until June 20, the last day that presidential campaigns must submit monthly fundraising figures to the Federal Election Commission (FEC) to release their May fundraising figures.
But when it came time to release the numbers for June and the second quarter, the Biden campaign was quick to do so, releasing them just two days after the fundraising period ended.
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Biden and the DNC had a large fundraising lead over Trump and the RNC earlier this year, but Trump and the RNC surpassed Biden and the DNC in fundraising for the first time in April.
And in May, the Trump campaign and the Republican National Committee, fueled by a fundraising surge following the former president’s historic criminal conviction, raised a staggering $141 million combined, handily outraising Biden and the Democratic National Committee.
Former President Donald Trump walks off stage after speaking during a rally at Greenbriar Farm in Chesapeake, Virginia, on June 28, 2024. (Anna Moneymaker/Getty Images)
The Trump campaign has until later this month to submit its fundraising figures to the FEC, but has not yet released its fundraising figures for June and the second quarter.
Fundraising, along with polls, is a key indicator of the strength of candidates and their campaigns. Money raised can be used to bolster grassroots and get-out-the-vote efforts, human resources, travel, advertising, and more.
The Biden campaign has used its resources to build a very strong ground operation in key battleground states, hiring its 1,000th staff member and announcing the opening of more than 200 affiliate offices in battleground states two weeks ago. The Biden campaign has a significant organizational advantage over the Trump campaign when it comes to grassroots activities and ground operations to encourage votes in states that are likely to determine the outcome of the reelection.
“The Biden-Harris campaign has made an historic financial increase and significantly expanded its influence and operations both at home and in key states – the resources we need to win a close election,” the campaign said in a statement.
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