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Biden, Democratic Fundraising Surges to $80.8 Million in May

Biden, Democratic Fundraising Surges to $80.8 Million in May

(Bloomberg) -- Democratic nominee Joe Biden’s fundraising surged in May, when his campaign, the Democratic National Committee and allied fundraising vehicles took in $80.8 million, a record for the candidate.

That was up 37% from the $59.8 million raised in April, the former vice president’s campaign said Monday. Grassroots donors giving small amounts accounted for a significant share of the haul, and half of those giving in May contributed for the first time.

The campaign said the number of online donors had tripled since February, with an average donation of $30.

Big donors poured in money too. The totals include the first full month of fundraising by Biden Victory Fund, a joint fundraising committee that can now accept contributions of up to $620,800 from individuals. The money is split between Biden’s campaign, the DNC and 26 state parties.

“Just a few months ago, people were ready to write this campaign off,” Biden said in a letter to supporters. “Now, we are making huge dents in Donald Trump’s warchest.”

Through April, Trump had raised $742 million, more than twice as much as Biden and the DNC. Biden’s committees ended that month with $103 million in the bank compared with $255 million for Trump. Biden’s campaign did not release his total cash on hand, and Trump has not released any information on his May numbers.

Campaigns and the parties report their May numbers in full to the Federal Election Commission on June 20.

Trump has been spending more than Biden on media. As the president’s poll numbers slipped amid the crises caused by coronavirus and the economic shutdown, Trump’s campaign spent $16.2 million on paid media, including broadcast, cable and digital, compared with $4.2 million spent by Biden.

To raise money, Biden’s relied on low-cost virtual fundraisers with former rivals for the nomination, party officials and celebrities. Hosts included breakout Democratic candidate Pete Buttigieg, celebrity yoga instructor Kyle Miller and 1970s “Wonder Woman” star Lynda Carter.

Trump used his own star power to draw $14 million in online donations for his birthday on Sunday, breaking the campaign’s previous record and making it the largest haul of digital donations in a single day. On Thursday, he held his first in-person fundraiser since suspending them in early March due to the pandemic.

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