Wilmington, Delaware – President Joe Biden’s reelection campaign, along with the Democratic National Committee, reported a significant fundraising success in March, raising over $90 million. The first quarter of the year ended with a cash reserve exceeding $192 million, signifying a substantial financial advantage over Donald Trump and the Republicans.
During the period from January to March, the Biden campaign and its associated entities amassed $187 million in donations, with a notable 96% coming from contributions of less than $200. A notable contribution came from a fundraising event at Radio City Music Hall in Manhattan, where former Presidents Barack Obama and Bill Clinton helped raise over $26 million.
On the other hand, Trump’s campaign disclosed raising $50.5 million from a fundraising event at the Florida home of billionaire investor John Paulson, setting a record for single-event fundraising. The pace of donations received by Biden’s campaign has enabled them to launch extensive digital and television advertising campaigns in crucial states, in collaboration with the DNC and state parties to galvanize potential supporters leading up to the November election.
By March 31, the campaign had accumulated a total of over $192 million in funding, setting a new high for any Democratic candidate. Approximately 1.6 million individuals have contributed to the campaign since Biden declared his reelection bid in April 2023, with a notable surge of more than $10 million in donations within 24 hours following the president’s State of the Union address in early March.
Campaign manager Julie Chavez Rodriguez emphasized the historic nature of the funds raised, highlighting their utilization in establishing a robust operational framework focused on engaging key voters across the nation. In contrast, she criticized Trump’s campaign for allocating limited resources predominantly towards settling various legal expenses.
Facing four separate criminal indictments, Trump and the Republican National Committee disclosed a fundraising total of $65.5 million in March, holding $93.1 million in reserves. Despite acknowledging the Democratic fundraising advantage, Trump campaign officials expressed confidence in meeting their financial requirements. The disparity in fundraising figures signifies varying levels of enthusiasm for the respective candidates, indicating potential challenges for Trump’s reelection bid despite his campaign’s financial stability.