Former President Trump has surpassed President Biden’s campaign in fundraising for the second quarter of 2024, according to the Trump campaign, with just four months until Election Day.
The campaign said in a statement that it raised $331 million in the three months of April, May and June, easily surpassing the Biden campaign’s total of $264 million for the same period. It also ended June with a cash advantage, with $284.9 million in the bank compared with Biden’s $240 million.
The announcement came after Biden led Trump in fundraising throughout much of the election, but that has changed in recent months.
Trump outraised Biden for the first time this election cycle in April, and the gap widened in May. Biden’s campaign raised slightly more in June, $111.8 million to Trump’s $127 million, but that wasn’t enough for Biden to raise any more in the second quarter.
Both candidates have huge war chests, but May has also erased the financial advantage Biden has built up over months.
“President Trump’s fundraising continues to grow day by day and month by month. This quarter’s wins have given us a cash flow advantage, while the Biden campaign’s increasing cash burn rate has not produced any tangible results for them,” Trump campaign advisers Chris LaCivita and Susie Wiles said in a statement.
The release of the figures comes after days of backlash over Biden’s performance in last week’s debate with Trump, which led to calls from some within Biden’s own party for him to drop out of the race.
In announcing its second-quarter fundraising numbers, the Biden campaign highlighted that it raised $38 million in the days following the debate, with $30 million of that coming from grassroots fundraising, and noted that June was its best fundraising month of the election cycle.
But Trump could take on much more.
“This fundraising momentum will likely intensify as we watch Democrats continue their mass firing squad in the wake of Biden’s debate defeat leading up to the global convention,” LaCivita and Wiles said.
The deadline for filing second-quarter campaign reports with the Federal Election Commission is July 15.
