President Biden's 2024 re-election campaign and the Democratic National Committee raised a combined $85 million in May, marking their second-best month of fundraising this election cycle. However, this amount falls short of the impressive $141 million raised by former President Trump's campaign and the Republican National Committee in the same period.
Despite the disparity in fundraising totals, the Biden campaign reported a substantial $212 million cash-on-hand at the end of May, underscoring their financial stability. Campaign manager Julie Chavez Rodriguez emphasized the growing enthusiasm for the President and Vice President, attributing the success to a strong and expanding fundraising program that attracted millions of new supporters in May.
On the other hand, the Trump campaign boasted a record-breaking fundraising performance following the former president's legal troubles, including a guilty verdict in his criminal trial. Their May fundraising haul of $141 million surpassed their April total of $76 million, showcasing strong grassroots support with an average donation of $70.27 and 25% first-time contributors.
Both campaigns capitalized on recent events to drive donations, with the Trump campaign raising nearly $53 million in the 24 hours after the guilty verdict. Similarly, the Biden campaign experienced a surge in fundraising post-verdict, marking one of their most successful 24-hour periods since the campaign's inception.
While Biden's May fundraising success was primarily fueled by grassroots donors, the campaign has been strategically investing in building a robust ground operation in key battleground states. With over 1,000 staff members hired, the Biden campaign maintains a significant organizational advantage over the Trump team in grassroots outreach and voter mobilization efforts.
Looking ahead, both candidates have continued to host high-profile fundraising events in June to bolster their financial resources. Biden set a new Democratic Party fundraising record with a $30 million fundraiser in Los Angeles, while Trump's team raised approximately $27.5 million during a recent fundraising swing in California and Nevada.
As fundraising remains a critical metric for gauging campaign strength, the money raised will be instrumental in supporting various campaign activities such as grassroots initiatives, staffing, travel, and advertising efforts as the 2024 election cycle progresses.
