Just a day after President Joe Biden announced he would not run for re-election, Democratic fundraising efforts surged, raising an impressive $100 million from donors through ActBlue, the primary fundraising platform for Democratic organizations.
This remarkable feat occurred in just a two-day span, according to a live tracking system maintained by Ryan Murphy from The Marshall Project. Although these figures are not officially certified yet, they provide a glimpse into the Democratic fundraising landscape ahead of any formal disclosure filings.
On Sunday alone, donors contributed a staggering $66.9 million to support Vice President Kamala Harris’s presidential campaign, marking the highest single-day fundraising total so far in the 2024 election cycle for ActBlue. This record surpasses past notable fundraising events, including the second-highest tally of $28 million collected during the Biden-Trump debate on September 30, 2020.
The recent spike in donations propelled ActBlue’s total fundraising to $14 billion since its inception two decades ago. In comparison, its Republican counterpart, WinRed, which started in late 2019, has raised approximately $4.3 billion.
ActBlue expressed excitement over the influx of new donors, stating that many contributed for the first time in just the past 24 hours. This increase in grassroots support is a promising sign for the future of the party.
Additionally, Future Forward, a super PAC aligned with Biden, received $150 million in new commitments from major donors shortly after Biden’s announcement and endorsement of Harris. Another organization, Swing Left, reported raising over $160,000 within the same 24-hour timeframe.
Roger Altman, the founder of Evercore, noted that Harris’s campaign is poised to be “very well financed,” while prominent Democratic donors like George and Alex Soros have also expressed their support for her candidacy.
In contrast, Biden previously saw significant fundraising immediately following his debates with Trump, raising $28 million shortly after a televised confrontation in June 2020. Following Trump’s recent legal challenges, both candidates experienced spikes in contributions as their supporters rallied to provide financial backing.
Despite this, the landscape remains competitive. Between April and June of this year, pro-Biden groups collected $332.4 million, while pro-Trump groups garnered $431.2 million, with Biden ending June with $281 million compared to Trump’s $336.2 million.
This recent wave of contributions underscores a robust enthusiasm within the Democratic base as they rally around Harris and prepare for the upcoming election cycle. The continued support from grassroots donors signals an optimistic outlook for the party as they mobilize their resources for the challenges ahead.