What to Know
Former President Donald Trump dramatically outraised President Joe Biden in May, propelled by a flood of donations following his conviction in his criminal trial in New York. The bulk of the former president’s May intake came from contributions within 24 hours of his conviction.
Trump’s fundraising surge helped the former president edge out the cash advantage that Biden enjoyed throughout much of the 2024 election cycle, a notable shift ahead of the first 2024 presidential debate in an increasingly tight race as the campaigns head into the critical final months of the election.
By the Numbers
Trump outraised Biden for the first time in April with the former president’s campaign raking in $76 million to Biden's $51 million. May saw an even larger disparity, with Trump bringing in $141 million compared to Biden’s $85 million.
Trump and the Republican National Committee ended May with $171 million in cash on hand, a larger cash reserve than the $157 million held by Biden and the Democratic National Committee, though Trump's ongoing legal fees continue to pose a substantial financial burden to the former president.
In addition to campaign fundraising, wealthy donors are also contributing heavily to super PACs boosting both candidates.
Dig Deeper
Trump and Biden’s campaigns each announced raising millions of dollars around the first 2024 presidential debate on Thursday. The Trump campaign said it raised $8 million on debate night while the Biden campaign claims it raised $14 million on debate day and the morning after, calling it their “best day for grassroots fundraising.” But some major Democratic donors have expressed concern about Biden’s debate performance, raising questions about his fundraising going forward.
Official numbers for the month of June will not be disclosed to the Federal Election Commission until campaign finance filings are due in July.
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