Biden Raises $90M in March, Trump Fundraises at Billionaire Event

President Joe Biden’s reelection campaign announced a staggering fundraising total of over $187 million for the first quarter of 2024, with $90 million raised in March alone. This impressive figure widens the fundraising gap between Biden and former President Donald Trump, who is expected to raise millions at a billionaire-hosted event this weekend.

The campaign also reported a record-breaking $192 million in cash on hand, a milestone for any Democratic candidate at this point in an election cycle. The funds, donated to Biden’s campaign, the Democratic National Committee, and joint fundraising committees, largely came from grassroots donors, with 96% of donations in the first quarter under $200.

One highlight was an event in New York City last week, attended by former Presidents Barack Obama and Bill Clinton, where over $26 million was raised. This event featured tickets selling for up to $500,000.

The Biden campaign boasts over 212,000 sustaining donors, more than double the amount at this point in the 2020 election cycle. In March alone, 704,000 individuals made 864,000 donations to Biden’s campaign.

On the other side, Trump is expected to raise an estimated $43 million at an event in Palm Beach, Florida, hosted by billionaire John Paulson. The event includes Trump’s former Republican primary opponents Sen. Tim Scott, R-S.C., North Dakota Gov. Doug Burgum, and biotech entrepreneur Vivek Ramaswamy. Attendees include billionaires John Catsimatidis and Steve Wynn, as well as aerospace executive Robert Bigelow, among others, with tickets costing up to $815,000 per person.

Despite Biden’s fundraising lead, recent polling shows Trump with a one-percentage-point lead over Biden. While some polls indicate signs of improvement for Biden, he is still underperforming compared to this point in 2020, according to NBC.