President Joe Biden‘s re-election campaign has made waves with a staggering fundraising achievement, disclosing a remarkable sum of over $187 million raised in the first quarter of 2024.
This figure nearly doubles the campaign’s previous quarterly intake, signaling strong momentum and backing for Biden’s bid for a second term.
March proved to be a particularly fruitful month for the campaign, coinciding with Biden’s securing of the Democratic Party’s nomination. During this month alone, contributions surged, eclipsing $90 million, a significant increase from the preceding month’s $53 million.
The campaign boasts a cash reserve of $192 million, marking a historic high for any Democratic candidate at this juncture in the electoral cycle.
Analysts attribute Biden’s fundraising success to various factors, including his incumbent status, along with robust support from Democratic predecessors, such as former Presidents Barack Obama and Bill Clinton.
A recent fundraiser held in New York City, attended by Biden and his Democratic predecessors, raked in over $25 million, highlighting the broad support base behind the campaign.
The campaign emphasized that contributions came from diverse fundraising streams, including Biden’s campaign, the Democratic National Committee, and joint fundraising committees.
A vast majority of donations, 96%, were under $200, showcasing broad grassroots support, with over 1.1 million donors contributing more than 1.9 million times.
Biden’s campaign also highlighted its significant outreach efforts, including a $30 million, six-week paid media campaign targeting battleground states.
Ad buys aim to engage Latino, Black, Asian American, and Pacific Islander voters, as well as supporters of former Republican nominee Nikki Haley, who withdrew her candidacy in March.
Furthermore, the campaign touted Biden’s extensive travel schedule, having visited every battleground state within a span of fewer than 20 days. Additionally, campaign surrogates participated in 69 events in March alone, highlighting the campaign’s proactive approach to engagement and outreach.
