Biden Outraises Trump in Third Quarter as Democrats Garner $71 Million in Earnings
Recent reports on the third-quarter earnings for both Democratic and Republican candidates have revealed a significant financial advantage for President Joe Biden and the Democrats. Despite former President Donald Trump’s estimated $37 million in earnings, Biden and the Democrats have outperformed their Republican counterparts in fundraising.
In a surprising turn of events, data on the 2023 fundraising efforts for candidates from both sides leading up to the 2024 Presidential Elections has emerged ahead of the Sunday filing deadline. What makes this even more remarkable is how much President Biden and the Democratic National Committee (DNC) have managed to amass, even with Trump’s involvement this year.
ABC News reports that the DNC and Biden have collected a staggering $71 million in the third quarter alone. A significant portion of these funds has come from approximately 500,000 anonymous donors who have generously supported Biden’s cause. Remarkably, this figure surpasses the initial expectations set by the Biden team, exceeding the anticipated amount by $14 million.
The success of Biden’s fundraising efforts can be attributed to the overwhelming support of small-dollar donors, with approximately 97% of donations falling below $200. The previous quarter’s statistics also reveal that the average contribution per person was capped at $40, indicating a broad base of support.
The Democrats are rightfully celebrating this substantial victory, which not only boosts Biden’s campaign but also strengthens the DNC. Julie Chavez Rodriguez, Biden’s campaign manager, expressed her team’s happiness, stating, These numbers are a testament to one of our core objectives early in this campaign: raise the resources needed to run an aggressive campaign that will win in November 2024.
While the Democrats revel in their newfound success, Trump and his team of Republicans are likely strategizing to make a strong comeback. Trump has raised approximately $45.5 million in the third quarter, according to sources. This includes the $37.5 million from the second quarter, as confirmed by Steven Cheung, a spokesperson from Trump’s presidential campaign.
Sources suggest that Trump’s campaign has relied heavily on funds generated from his legal affairs. Despite facing criminal charges, Trump remains steadfast in his motto of Never Surrender! His next move to counter Biden’s overwhelming fundraising victory is eagerly anticipated.
As the 2024 Presidential Elections draw near, both parties will undoubtedly intensify their fundraising efforts to secure an advantage. The impressive financial backing experienced by Biden and the Democrats demonstrates their ability to mobilize supporters and invest in a robust campaign. However, the Republicans, led by Trump, are sure to put up a fierce fight as they strive to reclaim the White House. Only time will tell which candidate emerges victorious in this high-stakes battle.
