Former President Donald Trump and the Republican Party brought in more money than President Joe Biden and the Democrats last month, marking the first time in this election cycle.
Trump’s team, along with Republicans and related groups, raised $76.2 million in April. In comparison, Biden’s campaign, alongside the Democratic National Committee (DNC), gathered $51 million. This slowdown for Biden was notable as it was just over half of what they raised in March.
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In April, Biden’s campaign specifically collected $24.2 million, down from $43.8 million in March. Despite the fundraising lead, Biden maintained a significant cash advantage, ending April with $84.5 million on hand, compared to Trump’s $48 million.
Trump’s ability to raise more money was expected after securing the Republican nomination, allowing him to collect larger donations, including those exceeding $800,000 per donor. However, Biden had already established joint fundraising agreements with the DNC, accumulating a war chest of $192 million.
Trump’s spending includes substantial amounts on legal bills, with $3.3 million going towards this in April. This spending likely impacted the overall cash on hand for Trump’s campaign.
While Trump led in fundraising for April, Biden’s campaign maintained momentum with grassroots support, as noted by Biden’s campaign manager, Julie Chavez Rodriguez.
Trump’s campaign emphasized their success despite legal challenges, with Trump himself attributing the fundraising victory to the diminishing support for Biden.
The fundraising gap reflects the differing strategies of the two campaigns, with Biden focusing on grassroots enthusiasm and Trump leveraging high-dollar donations.
In addition, Trump’s fundraising efforts were buoyed by contributions from associated committees and super PACs, including significant sums from individuals like Timothy Mellon.
Meanwhile, Robert F. Kennedy Jr.’s independent candidacy also saw notable contributions, including significant investments from his running mate, Nicole Shanahan.
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Kennedy’s campaign, focused on achieving ballot access in all 50 states, experienced escalating expenses in April, particularly towards ballot access consultants.
Overall, the April fundraising results reflect the evolving dynamics of the 2024 presidential race, with Trump’s fundraising prowess and Biden’s grassroots support shaping the financial landscape of the campaign.
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