US President Joe Biden and Vice President Kamala Harris smile after signing the Emmett Till Anti-lynching Act, making lynching a hate crime under federal law, during a ceremony in the Rose Garden of the White House in Washington, DC, March 29, 2022.
Nicholas Kamm | AFP | Getty Images
President Joe Biden amassed a staggering $72 million in donations for his 2024 reelection campaign during the second quarter of this year. This impressive feat was achieved between April 1 and June 30 and involved contributions from various sources, including his campaign and joint fundraising committees, which also raise funds for the Democratic National Committee and state Democratic party committees. As a result, the combined balance for the Biden entities now stands at $77 million, providing a substantial war chest for what is expected to be the most expensive presidential campaign in American history.
Vice President Kamala Harris has played a pivotal role in supporting fundraising efforts, attending numerous small and high-value events. By outpacing the 2024 campaigns of former President Donald Trump and Florida Gov. Ron DeSantis, the leading contenders in the Republican primary, Biden has further solidified his financial advantage. Trump’s campaign raised over $35 million during the same period, while DeSantis’ campaign, which commenced in May, secured $20 million in donations. In addition, DeSantis’ affiliated super PAC, Never Back Down, has accumulated an impressive $130 million since his entry into the race.
The Biden campaign proudly declared that their $77 million cash reserve “represents the highest total amassed by a Democrat at any comparable point in history.” This achievement is a testament to not only their fundraising prowess but also their belief that Republican candidates are hemorrhaging resources in a divisive primary, centered around who can take the most extreme MAGA positions.
Julie Chavez Rodriguez, Biden’s campaign manager, 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.”
At the time of writing, representatives from the Trump and DeSantis campaigns have not responded to CNBC’s request for comment.
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