As the race for the US presidency heats up, candidates for the Democratic and Republican parties are trying to broaden their chests before the primary and general election campaigns begin.
Although the primary season has not yet begun, incumbent President Joe Biden is leading all candidates according to finance disclosures submitted to the US Federal Election Commission for the second quarter of 2023, ending June. Bloomberg,
The US president’s team said in a statement that the campaign raised $72 million in the second quarter for his 2024 re-election effort.
According to BloombergOn average, the US president has raised more than $1 million per day since starting his re-election campaign. The amount raised far exceeds that of his former boss, Barack Obama.
A major reason for the US President raising such a huge amount is the joint fundraising agreements between Biden’s campaign, the Democratic National Convention (DNC) and the state parties. The agreement allows Biden to accept funding on a far larger scale than his Republican rivals.
The maximum donation to the Biden Victory Fund is $929,600, which narrows the individual contribution limit to $3,300 for single campaigns without a party-wide agreement.
Biden’s donors include Sam Altman, CEO of ChatGPT maker OpenAI, LinkedIn co-founder Reid Hoffman, actor and author Seth MacFarlane and fashion designer Michael Kors.
According to BloombergBiden’s predecessor, Donald Trump, who is trying to plan a return to the White House, has collected more than $35 million through small donors in the second quarter despite facing legal challenges.
According to BloombergThe money was raised through the Trump Save America Joint Fundraising Committee but it is not necessary that all the money will go to the former president’s campaign.
The committee splits donations between Trump’s campaign and his leadership political action committee (PAC) and will not report to the US FEC until July 31. At this point, it’s unclear how much of the $35 million will eventually go to the leadership PAC, which may be distributed to other candidates or to pay for Trump’s legal expenses, but 10% of the money is currently earmarked for it. is defined.
Although the primary season has yet to begin, Trump is the frontrunner for the Republican nomination with 53% support in the RealClearPolitics average of national polls. Bloomberg,
Ron DeSantis, the governor of the US state of Florida, raised more than $20 million during the second quarter, but in the race for the Republican nomination, he remains a distant second to Trump as polls show him averaging 20.6% support Used to be.
His donors include billionaire Kelsey Warren, chairman of Energy Transfer, Home Depot co-founder Kenneth Langone, and conservative billionaire Harlan Crowe, who has given US Supreme Court Justice Clarence Thomas and his family luxurious trips and private real estate deals.
Nikki Haley, the former US ambassador to the United Nations, took in $26 million in the outgoing quarter, including $7.3 million in direct donations. But the former envoy is yet to make a mark in the polls and is hovering around 3%.
Trump’s Vice President Mike Pence is far behind in the race, raising less than $1.2 million. But it’s only been 24 days since he announced his bid for the White House.
Biotech entrepreneur and Indian-origin Republican candidate Vivek Ramaswamy earned $7.7 million in the second quarter, including $5.4 million he paid himself. Bloomberg,
According to the publication, the businessman has spent $16 million of his own money since announcing his candidacy.
South Carolina Senator Tim Scott has managed to raise $6.1 million in just 40 days since announcing his candidacy.
Doug Burgum, the governor of the US state of North Dakota, which is largely self-financing his longtime presidential campaign, earned $11.7 million during the second quarter. But of the money raised, $10.2 million was put in by the governor himself.
Chris Christie, the former governor of the US state of New Jersey and a critic of Trump, earned more than $1.6 million in the second quarter. Bloomberg Citing a press release from his campaign.
Robert F. Kennedy Jr.
Robert F. Kennedy Jr., who is expected to challenge President Joe Biden in the Democrat primary, has about $6.4 million to date.
The Democrat is the son of former US President Robert F. Kennedy and has been involved in promoting conspiracy theories and falsehoods. However, not many see Kennedy as a threat to Biden.
Donors to Kennedy include Joseph Gebbia, co-founder of Airbnb Inc., and Bill Ackman, founder of Pershing Square Capital Management.
Marian Williamson, the longtime Democratic nominee, managed to raise only close to $921,000 in the second quarter.