Following President Joe Biden’s announcement that he would not seek re-election, the Democratic Party raised an impressive $100 million from donors within a two-day period via its primary fundraising platform, ActBlue. This figure was recorded by Ryan Murphy, a developer at The Marshall Project, using a live tracker that monitors donations since 2004. While the amount isn’t officially confirmed, it gives insight into the fundraising dynamics ahead of necessary disclosure filings.
On Sunday, donors contributed $66.9 million specifically for Vice President Kamala Harris’s presidential campaign launch, marking the most substantial fundraising day in the 2024 election cycle for ActBlue. The second-highest recorded day for donations occurred during the first presidential debate between Biden and Trump on September 30, 2020, according to Murphy’s data.
The influx of donations allowed ActBlue to surpass a significant milestone of raising $14 billion since its inception two decades ago, while its Republican counterpart, WinRed, which began operations in 2019, has raised approximately $4.3 billion, according to OpenSecrets.
ActBlue noted a surge in engagement, stating that many donors were contributing for the first time. Future Forward, a super PAC aligned with Biden, secured $150 million in new commitments from prominent donors just 24 hours after his announcement and endorsement of Harris. Additionally, Swing Left, which supports the eventual Democratic nominee, raised over $160,000 in the same timeframe.
Roger Altman, founder of Evercore, expressed confidence in Harris’s campaign, indicating it would be “very well financed,” and confirmed his support. Democratic benefactors, including George and Alex Soros, also pledged their backing to Harris.
Historically, Biden has seen notable fundraising peaks immediately following substantial events, such as his defeat by Trump during a debate in June 2020, which brought in about $28 million in a short span. In the wake of legal proceedings against Trump, Biden raised $19.2 million shortly after Trump’s indictment. In contrast, Trump’s campaign experienced a significant boost, raising $69 million in just one day post-indictment, which temporarily overwhelmed his campaign website. Overall, from April to June, pro-Biden groups accrued $332.4 million, while pro-Trump entities collected $431.2 million, with Biden holding $281 million compared to Trump’s $336.2 million by the end of June.