Trump Raised $24.8 Million in Less Than 24 Hours, RNC Says
Trump raised $24.8 million in less than 24 hours as he officially launched his campaign for re-election, RNC said.
(Bloomberg) -- President Donald Trump raised $24.8 million in less than 24 hours as he officially launched his campaign for re-election, Republican National Committee Chairwoman Ronna McDaniel said.
The haul dwarfs the first day fundraising totals announced by some of his Democratic rivals, including former Vice President Joe Biden’s $6.3 million, former Texas congressman Beto O’Rourke’s $6.1 million, and Vermont Senator Bernie Sanders’s $5.9 million.
McDaniel reported the fundraising total in a tweet the day after Trump announced his bid for a second term to thousands of supporters at a rally in Orlando late Tuesday. In a 78-minute speech, he touted his administration’s accomplishments, attacked his political opponents and Special Counsel Robert Mueller’s investigation, and offered red meat lines to rally his base.
Trump previously disclosed in a filing with the Federal Election Commission on Jan. 20, 2017 -- the day of his inauguration -- that he had begun raising money for his re-election. Unprecedented for a president in the first two years of his term, Trump raised $67.5 million for his campaign.
The fundraising was done through committees including the Trump Victory, which focuses on contributors who can write large checks, and Trump Make America Great Again, the small-dollar fundraising arm, according to an RNC official, who asked not to be named because he doesn’t speak for the party.
Both benefit Trump’s campaign and the RNC, which can accept contributions of up to $355,000 from individuals. Big contributors gave a combined $10.8 million, the official said.
Democratic presidential candidates like Biden and Sanders can accept just $2,800 from donors for their campaigns under federal election law. Primary candidates generally don’t start raising money for their party until they’ve clinched the number of delegates necessary to secure the nomination.
The RNC is using the cash advantage to build infrastructure for the 2020 campaign. The party is in the process of training over 4,400 neighborhood organizers and volunteers at 250 events to help get out the vote in the general election. The DNC has plans to train 1,000 organizers this summer.
Trump’s campaign ended the first quarter with $41 million in the bank, FEC records show. The RNC, which reports its totals monthly, had $35 million at the end of April. The Democratic National Committee, by contrast, has spent more than it has raised this year and has $7.6 million in the bank and $6.2 million in debt.
Democratic donors are dividing their contributions among more than 20 candidates but have been as generous as Republicans. From January through March, the 16 Democrats who’d officially launched their presidential campaigns collectively raised $77 million, or $3 million more than Trump’s campaign and the Republican National Committee combined.
Trump will be padding his total on Wednesday. He is scheduled to attend a fundraiser this afternoon at his Trump National Doral Miami club, where the minimum donation to attend is $100,000. Proceeds will benefit his campaign and the RNC.
To contact the reporter on this story: Bill Allison in Washington at ballison14@bloomberg.net
To contact the editors responsible for this story: Sara Forden at sforden@bloomberg.net, Joshua Gallu, Justin Blum
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