President Joe Biden's campaign team reportedly raised over $71 million during the third quarter, according to his campaign team on Sunday.
The funds add to a total of $91 million on hand for the president's reelection battle.
President's re-election team crows that Biden outraised Trump, DeSantis and Haley https://t.co/IXxpZQvmZR
— Fox News (@FoxNews) October 16, 2023
"The campaigns spotlighted that they had nearly $91 million in their campaign coffers at the end of September, which they touted is 'the highest total amassed by any Democratic candidate in history at this point in the cycle,'" Fox News reported.
"The president's re-election campaign also said their fundraising the past three months 'is significantly more than any of the GOP 2024 campaigns, and the team’s cash-on-hand is widely expected to be more than the entire GOP field combined,'" it added.
Biden just announced his campaign raised $71.2 million in the third quarter.
— No Lie with Brian Tyler Cohen (@NoLieWithBTC) October 16, 2023
“The momentum is continuing to build for him. As the stakes of the election are becoming clearer and the choice could not be more distinctive, the enthusiasm grows,” campaign co-chair Jeffrey Katzenberg told CNN.
“All the money that has been raised and is continuing to be raised and the $91 million that is in the bank today, it’s all focused on November of 2024. All of our investment today is focused on those strategic, important places – states that are going to be where this race will be won or lost,” he continued.
Biden and Democrats raised $71 million in the third quarter, the president's campaign said, as Democrats grow their war chest heading into 2024.
The former president, however, handily leads the GOP primary field in donations. https://t.co/SxGV5Ez3Ru
— ABC News (@ABC) October 16, 2023
"Trump raised $45.5 million in the third quarter of this year, according to his campaign," ABC News reported.
"Trump's team entered October with more than $37.5 million in the bank and nearly $36 million of that designated for the crowded Republican primary contest," the campaign said.
The total was far more than other GOP contenders, with Gov. Ron DeSantis at $15 million for the quarter after $20 million in the second quarter.
Former South Carolina Gov. Nikki Haley reported $11 million, ranking next in line among GOP candidates.
The funding is not the only factor in the campaign but it does make a difference in the outcome. So far, Biden continues to hold an advantage, with Trump still fighting to catch up to his level of funding.