Donald Trump's campaign raised more than $60 million more than President Joe Biden's campaign in May, showcasing Trump's enduring influence despite his recent felony convictions.
AP News reported that the combined fundraising efforts of Donald Trump's campaign and the Republican National Committee resulted in an impressive $141 million in May. Meanwhile, President Joe Biden’s campaign and the Democratic National Committee raised $85 million during the same period.
By the end of May, Trump's campaign and the Republican National Committee reported having over $170 million in the bank.
In comparison, Biden’s campaign and the Democratic National Committee had $212 million on hand.
Moreover, in recent efforts, Biden and his close allies managed to bring in an additional $40 million. Notably, Michael Bloomberg, former New York City Mayor, contributed $20 million to groups supporting Biden.
Billionaire Timothy Mellon made a substantial contribution of $50 million to a pro-Trump super PAC just a day after Trump was found guilty. This undoubtedly exerted a tremendous impact on the overall fundraising landscape.
The pro-Trump super PAC, MAGA Inc., had also made notable financial strides. In May, MAGA Inc. raised $68.8 million, ending the month with $93.7 million in reserve.
MAGA Inc. has also allocated $3.5 million for television advertising across Georgia and Pennsylvania starting July 3, signaling strategic campaign moves.
Robert F. Kennedy Jr., running as an independent candidate, managed to raise $2.6 million in May. However, his campaign faced financial difficulties as expenses exceeded the raised funds.
By the end of May, Kennedy’s campaign had $6.4 million in the bank, highlighting the challenges faced by independent candidates competing against well-funded party candidates.
Despite his efforts, Kennedy’s campaign remains financially strained amid the ongoing political battle.
President Biden’s recent fundraising momentum was bolstered by high-profile events. A prominent fundraiser held in Los Angeles featuring movie stars and former President Barack Obama brought in over $30 million.
Furthermore, First Lady Jill Biden contributed through her dedicated fundraising efforts, bringing in $1.5 million.
Michael Bloomberg’s support extended beyond financial contributions, as he endorsed Biden and contributed $19 million to the pro-Biden group Future Forward and another significant amount to the Biden Victory Fund.
Biden campaign manager Julie Chavez Rodriguez commented on the growing support, saying, "Our strong and consistent fundraising program grew by millions of people in May, a clear sign of strong and growing enthusiasm for the president and vice president every single month."
Chavez Rodriguez contrasted the practical efforts of Biden’s campaign with Trump’s approach, stating, “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.”
Michael Bloomberg expressed his continued support for Biden, saying, "I stood with Joe Biden in 2020, and I am proud to do so again."
The Biden campaign witnessed an influx of new donors, attracting over 3 million new supporters in May.
This surge in grassroots support is seen as a testament to the campaign’s widespread appeal among voters.
Democratic National Committee Chair Jaime Harrison emphasized the distinction between the campaigns, stating, “While Trump is leeching off his billionaire sycophants, our campaign represents the voices of America, and we’re honored to have their support as we race toward November.”
The fundraising battle between Donald Trump and President Joe Biden has revealed contrasting strategies and significant financial backing, with Trump’s recent convictions propelling his campaign’s donations.
From significant contributions by key figures like Timothy Mellon and Michael Bloomberg to strategic advertising allocations by pro-Trump committees, this financial race underscores the intense rivalry heading into the election season.
Meanwhile, Biden’s campaign continues to harness grassroots support and convert high-profile endorsements into substantial funds, preparing for the critical months ahead.
