Joe Biden is engaged in an energetic fundraising campaign for his 2024 re-election bid, targeting Democratic donors who are feeling anxious about his prospects. The US President aims to amass a war chest of over $1 billion by the end of the second quarter, dispelling concerns about a slow start to his campaign.
In the past two weeks, Biden has been hosting fundraising events in Silicon Valley, Chevy Chase, Maryland, and downtown Chicago. He concluded his tour with two fundraisers in New York City, attended by top Wall Street Democrats.
Vice-President Kamala Harris and first lady Jill Biden have also embarked on fundraising efforts across the country, underscoring the campaign’s urgency to meet financial targets.
Some Democratic donors have expressed uneasiness about Biden’s low approval ratings and his age, despite his accomplishments in the economy and his role in uniting the West over the Ukraine conflict. However, Biden’s campaign has been actively encouraging donors to make early commitments.
The second-quarter fundraising results will be crucial, as they will either allay concerns about the lack of support for Biden among traditional Democratic backers or reinforce those worries. Ticket prices for Biden’s fundraisers have varied, with some offered for as low as $3,300, causing speculation about the campaign’s performance.
Biden has enlisted the help of prominent figures like Barack Obama, Nancy Pelosi, JB Pritzker, and Gavin Newsom to boost fundraising efforts. Despite the challenges, Biden’s campaign spokesperson remains optimistic and points out the difference in the tone of the Republican primary.
The fundraising records for all presidential candidates, including Donald Trump and Ron DeSantis, will be made public in mid-July. Although Biden’s campaign has not publicly set a target, experts believe he will succeed due to the motivation to defeat Trump in the general election.
Overall, Biden’s fundraising campaign is gaining momentum, with a focus on larger, more affordable events. However, there are limitations to campaigning while serving as president, and Biden is yet to appoint a finance chair for his 2024 campaign.
Despite these challenges, Democratic strategists believe that the campaign is progressing well and is on track to become the largest in history, requiring resources for organizing, grassroots activities, and media campaigns.
Additional reporting: Antoine Gara and Ortenca Aliaj
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