The Biden campaign and its affiliated fundraising groups raised $90 million in March, nearly matching their total from the first two months of 2024. This strong end to the first fundraising quarter brings their total banked funds to $192 million, with continued growth despite increased spending. A significant portion of the funds came from the “Three Presidents” fundraiser featuring Biden, Obama, and Clinton, along with musical performances. The campaign saw a surge in small-dollar contributions, with 1.9 million contributions from 1.1 million donors, mostly in amounts under $200. The campaign has also doubled its email list since the start of the year and now has 212,000 “sustaining donors.”
On the other hand, the Trump campaign is gearing up its fundraising efforts after dispatching primary opponents, with a fundraiser hosted by John Paulson expected to raise at least $50 million. Both campaigns are raising money for their campaigns, national party committees, and state parties. While the Biden campaign emphasizes grassroots donors, the Trump campaign is focusing on elite bundlers and high-dollar contributors. The Biden campaign views the contrast as emblematic of the election, with a sustainable grassroots base driving their fundraising efforts. The Trump campaign has not reported its March fundraising numbers yet and is looking to quickly cut into Biden’s cash advantage.
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