In a remarkable turn of events, former President Donald Trump’s campaign, along with the Republican National Committee (RNC), raised a staggering $141 million in May, overshadowing President Joe Biden’s campaign and the Democratic National Committee (DNC), which raised $85 million during the same period. This fundraising feat has effectively erased Biden’s cash advantage, placing Trump’s campaign ahead by $116.5 million. The surge in donations comes in the aftermath of Trump’s conviction on 34 felony charges in his hush-money trial in New York City and includes a sizable $50 million contribution from billionaire Timothy Mellon —one of the largest disclosed campaign contributions on record —the day after Trump’s conviction and another $100 million planned for spending through Labor Day on an advertising blitz in key states where Trump leads in the polls and ahead of the upcoming Republican National Convention.The fundraising numbers reported by Trump’s campaign are unprecedented, especially considering the legal and financial challenges he faces, including over $860,000 in unpaid legal bills related to his numerous court battles. Despite these challenges, Trump’s campaign has not only managed to close the gap with Biden but has also surpassed his campaign’s funds on hand, with a reported $170 million in the bank compared to Biden’s $212 million. The Trump campaign’s fundraising efforts are largely fueled by billionaire donors, contrasting with Biden’s grassroots fundraising approach, which attracted over 3 million new donors in May.The political landscape is poised for intense competition as both campaigns gear up for the 2024 presidential election. With Trump’s vice-presidential running mate announcement pending and both candidates scheduled to meet in a debate on June 27, the stage is set for a heated race to the White House.
Key points
- Donald Trump’s campaign and the RNC raised $141 million in May, outpacing Biden’s campaign and the DNC.
- Trump’s fundraising success follows his conviction on felony charges, with a significant boost from billionaire donations.
- The Trump campaign has a cash advantage over Biden’s, with $170 million on hand compared to Biden’s $212 million.
