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Trump Is Raising Enough Money To Wipe Out Biden's Once Significant Cash Advantage

Published 22/06/2024, 16:47
© Reuters.  Trump Is Raising Enough Money To Wipe Out Biden\'s Once Significant Cash Advantage

Benzinga - by Bibhu Pattnaik, Benzinga Staff Writer.

The campaign of former President Donald Trump has seen a significant increase in donations, surpassing that of President Joe Biden, following Trump’s felony conviction.

What Happened: In May, the Trump campaign and the Republican National Committee collectively raised $141 million, outstripping the Biden campaign and the Democratic National Committee, which raised $85 million.

The Trump campaign experienced a substantial boost in donations after Trump was convicted on 34 felony charges, reports the New York Times.

On the day of Trump’s conviction and the following day, the Trump campaign received six times the average daily amount of large donations.

The actual surge may be even higher as contributions under $200 and those not yet transferred are not included in these figures.

Also Read: Ex-Colleagues Of Judge In Donald Trump’s Hush-Money Case Say Former President Will Most Likely Face This Sentence

By the end of May, Trump’s campaign had $116.6 million on hand, while Biden’s campaign had $91.6 million, according to Federal Election Commission filings.

“President Trump’s record-breaking fundraising numbers prove Crooked Joe Biden’s witch hunts against President Trump, skyrocketing inflation, and the illegal border invasion have united the American people around the fact that another four years of Biden will mean the end of our country,” Steven Cheung, the Trump campaign’s communications director, told Business Insider.

“The money we continue to raise matters, and it’s helping the campaign build out an operation that invests in reaching and winning the voters who will decide this election — a stark contrast to Trump’s PR stunts and photo-ops that he’s pretending is a campaign,” Julie Chavez Rodriguez, the campaign manager for Biden-Harris 2024, said in press release.

Despite Trump’s fundraising triumph, the Biden campaign reported May as its second-strongest grassroots month, with over 3 million donors.

The Biden team, combined with the DNC’s funds, had a war chest of $212 million at the start of June. In contrast, the Trump campaign and the RNC had a combined $170 million.

Why It Matters: The surge in Trump’s campaign donations post his conviction signifies a strong support base for the former president, despite his legal troubles. This could potentially influence the political landscape in the coming years.

The fundraising success of both campaigns also highlights the high stakes and the intense competition in the current political climate.

Now Read: Following Trump’s Guilty Verdict, Legal Experts Say He Could Face This Punishment Instead Of Prison Time

This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Photo: Shutterstock

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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