Just a day after President Joe Biden announced he would not run for re-election, the Democratic fundraising platform ActBlue reported raising an impressive $100 million from donors. This significant amount was collected over a two-day period, as logged by Ryan Murphy, a developer at The Marshall Project, using a live tracker that monitors donations on ActBlue. While the figures are not yet official since they rely on ActBlue’s own tracking system established in 2004, they offer insight into the fundraising landscape ahead of required disclosures.
On Sunday alone, donors contributed a remarkable $66.9 million to support Vice President Kamala Harris’s presidential campaign, marking the largest single-day fundraising effort in the 2024 election cycle for ActBlue. The previous record for daily donations was set on September 30, 2020, during the first presidential debate between Biden and Trump.
With this surge in contributions, ActBlue reached a milestone of $14 billion raised since its inception two decades ago. In contrast, its Republican counterpart, WinRed, which began collecting donations in late 2019, has raised around $4.3 billion, according to OpenSecrets.
ActBlue expressed enthusiasm over the influx of new small-dollar donors, saying, “We’ve seen so many folks saying they made their first ever donation in the last 24 hours! It’s so motivating to see new small-dollar donors join the grassroots movement!”
In a related development, Future Forward, a super PAC aligned with Biden, secured $150 million in commitments from major donors shortly after Biden’s announcement and endorsement of Harris. Similarly, the organization Swing Left reported raising over $160,000 within a day.
Evercore founder Roger Altman commented on Harris’s campaign, indicating it would be “very well financed” and affirming his support. Notable Democratic patrons, including mega-donors George and Alex Soros, have also expressed their backing for Harris.
Historically, Biden’s fundraising peaks have occurred in reaction to significant political events, such as following his loss to Trump in a June debate and in the wake of Trump’s felony conviction, which generated large sums for both parties.
In summary, Biden’s announcement marks a pivotal moment in Democratic fundraising, with significant contributions flowing in to support Harris and other initiatives. This uptick in donations showcases a renewed enthusiasm among donors and highlights the strength of grassroots support within the party. The future of the Democrats appears promising as they mobilize significant resources heading into the 2024 election.