Trump Spent Twice as Much as Biden in May: Campaign Update

(Bloomberg) -- President Donald Trump spent more than twice as much as Joe Biden on his presidential campaign in May, according to filings released Saturday by the Federal Election Commission.

Biden, who clinched the Democratic presidential nomination earlier this month, spent $11.7 million compared with $24.5 million for Trump, who’s facing slipping poll numbers.

Overall, Biden and his allied committees outraised Trump for the first time in May, taking in $80.8 million compared with $74 million for the president’s campaign, the Republican National Committee, Trump Victory and Trump Make America Great Again. The latter two committees raise money for Trump’s campaign and the RNC.

Even though Trump spent more, including an $11.6 million television ad buy, his re-election effort ended May with $265 million in the bank thanks to a fundraising effort that’s raised $817 million this election cycle. Biden’s campaign and the Democratic National Committee reported $122 million cash on hand.

Trump, who like Biden suspended in-person fundraisers and rallies in March due to the coronavirus pandemic, resumed them with a June 11 event in Dallas that raised $10 million. Biden is still relying on virtual events. Last week, he co-hosted a virtual fundraiser with a former nomination rival, Elizabeth Warren, that brought in $6 million. Biden’s former boss, Barack Obama, will headline an event next week.

Trump Raises Less Than Biden, Democrats in May (12:45 p.m.)

President Donald Trump’s re-election effort raised less money than Democratic nominee Joe Biden in May -- the first time Biden has outraised Trump on a monthly basis.

Trump, the Republican National Committee and allies took in $74 million last month, his campaign said Saturday. Biden, the Democratic National Committee and their supporting vehicles reported Monday that they had raised $80.8 million in the candidate’s first full month with the party’s full fund-raising operation behind him.

Trump’s committees announced they ended May with $265 million in the bank. Biden didn’t announce a cash-on-hand figure for his committees. His war chest held $103 million at the end of April. Campaigns and party committees are due to file detailed reports to the Federal Election Commission on Saturday.

Trump’s haul topped the $61.7 million he raised in April, the first full month of lockdowns due to the coronavirus pandemic. After a two-month hiatus, Trump held his first in-person fundraiser with big donors on June 11 in Dallas. On Saturday he’ll hold his first campaign rally since early March, and the sale of official merchandise is expected to help him raise money from small-dollar donors. Overall, Trump and the RNC have raised $817 million for his re-election in the current election cycle.

May was the first month Biden could solicit large donations, up to $620,800, to Biden Victory, a joint fund-raising committee that benefits his campaign, the Democratic National Committee and 26 state parties. In 2012, Mitt Romney outraised President Barack Obama, $76.8 million to $60 million in May, his first full month of being able to solicit big donations.

Coming up:

Trump will resume big rallies with an event on Saturday in Tulsa, Oklahoma. The Democratic National Convention is scheduled for the week beginning Aug. 17 in Milwaukee, while the Republicans are slated to meet a week later with events in Charlotte, North Carolina, and Jacksonville, Florida.

©2020 Bloomberg L.P.