WASHINGTON – US President Joe Biden raised more than US$90 million (S$121.4 million) for his re-election campaign and the Democratic Party in March, topping Republican nominee Donald Trump’s haul and widening his financial advantage.
The president and his party ended March with US$192 million cash on hand, the most ever amassed for a Democrat at this point in the calendar, according to a statement by Mr Biden’s campaign. That is more than double the US$93.1 million that Trump and the Republican Party said they had at the end of March.
Mr Biden had his biggest total from small-dollar donors to date, breaking records set in each of the previous four months. The campaign doubled the size of its mailing list and saw twice as much interaction from those receiving its e-mails and text messages.
Donors with deep pockets also chipped in, including the US$26 million the campaign raised at an event in March in New York City featuring Mr Biden and former presidents Bill Clinton and Barack Obama.
Mr Biden has raised more than US$422 million since launching his re-election bid in April 2023. As an incumbent with only nominal opposition in the primaries, he has been able to stockpile money for the general election.
Meanwhile, Trump battled through an expensive primary season, fending off challengers including Florida Governor Ron DeSantis and former ambassador to the United Nations Nikki Haley.
In March, 704,000 donors made 864,000 contributions, with Mr Biden’s biggest daily total the US$10 million raised after his State of the Union speech. A contest to attend the fund-raiser in New York City brought in US$9.5 million from grassroots contributors.
“The money we are raising is historic, and it’s going to the critical work of building a winning operation,” campaign manager Julie Chavez Rodriguez said in a statement, pointing to the campaign’s offices around the country, growing staff in battleground states and its paid media programme.
Mr Biden is hoping to capitalise on Trump’s legal challenges, which include four criminal indictments that have eaten into some of his war chest.
Trump, who only began fund raising with the Republican National Committee in mid-March, brought in US$65.6 million, but is poised to raise more.
An event in Palm Beach hosted by billionaire John Paulson on April 6 is expected to generate US$43 million for Trump from contributors writing six-figure checks. Until he secured the nomination and began raising money for the RNC and state parties, Trump could accept just US$3,300 from individuals for his campaign. He can now take in US$814,600 per donor. BLOOMBERG
