Donald Trump's election war chest tops Biden's ahead of 2024 election
Trump's campaign, launched in November, reports spending about $9m in the 3 months through June
July 16, 2023
Financial data released Saturday revealed that US President Joe Biden’s had around $20 million in the bank as his re-election campaign concluded last month, whereas former president and Republican candidate Donald Trump was ahead with $22 million plus, reported Reuters.
The money disclosures filed to the Federal Election Commission indicate the intense money race ahead presidential election in November 2024.
Biden has amassed a smaller war chest than past presidents at this point in recent re-election campaigns. Democrat Barack Obama had $37 million at this point in 2011, while Trump had more than $56 million in June 2019.
The funds detailed in the disclosures represent a significant chunk of the funding behind the campaigns. However, they do not include money gathered by allied super PACs, which typically raise massive sums from the wealthiest donors. They are due to disclose details on their finances later in July.
Biden's campaign announced Friday that his re-election effort, when including the Democratic Party's accounts, had $77 million in the bank.
The president is not expected to face a serious challenge in the Democratic nomination contest. One challenger, anti-vaccine activist Robert F Kennedy Jr, reported raising just $6 million through June, while another, self-help guru Marianne Williamson, took in less than $1 million.
Trump's campaign, launched in November, reported spending about $9 million in the three months through June, more than any other campaign, according to the disclosures wiled to election regulators.
The spending included more than $2 million paid to Campaign Inbox LLC, a digital fundraising firm.
Florida Governor Ron DeSantis, who ranks second to 77-year-old Trump in most opinion polls for the Republican nomination contest, had about $12 million in his campaign account, considerably less than the $21 million had by fellow Republican Tim Scott, a US senator for South Carolina.
DeSantis and Scott launched their campaigns in May.
Long-shot Republican candidates Doug Burgum and Vivek Ramaswamy disclosed putting millions of dollars of their own money into their campaigns.
Burgum, the governor of North Dakota, lent about $10 million to his campaign, and Ramaswamy, a former biotechnology executive, lent his about $15 million.
