Just one day after President Joe Biden announced he would not run for re-election, the Democratic Party raised $100 million through its primary fundraising platform.
According to a tracker managed by Ryan Murphy of The Marshall Project, ActBlue, a political action committee that supports Democratic organizations, reported this fundraising achievement over the past two days. While not an official figure, it reflects the significant donations collected, especially ahead of required financial disclosures.
On Sunday alone, contributions totaled $66.9 million for the launch of Vice President Kamala Harris’s presidential campaign, marking the most substantial single-day fundraising effort in the 2024 election cycle for ActBlue. This surpasses the previous record set during the first presidential debate between Biden and Trump on September 30, 2020.
With the influx of donations, ActBlue has now raised a total of $14 billion since its inception twenty years ago. In contrast, its Republican counterpart, WinRed, which started in late 2019, has gathered approximately $4.3 billion.
ActBlue noted on social media that many individuals reported making their first-ever donation within the last 24 hours, highlighting the bipartisan mobilization of small-dollar donors.
Additionally, Future Forward, a super PAC aligned with Biden, secured $150 million in new commitments from major contributors shortly after Biden’s announcement and Harris’s endorsement, according to Politico. Swing Left, which has initiated its support for the eventual Democratic nominee, reported raising over $160,000 in the same timeframe.
Roger Altman, the founder of Evercore, expressed confidence in Harris’s funding capabilities, affirming his support for her campaign. Notable Democratic donors, including George and Alex Soros, have also endorsed Harris.
Historically, Biden’s most successful fundraising periods occurred following major political events, such as his defeat by Trump during a debate on June 27, after which he raised roughly $28 million in a day. He also garnered $19.2 million following Trump’s conviction on 34 felony counts. Trump’s campaign website faced significant traffic issues due to a surge in donations that month, with aligned super PAC Make America Great Again Inc. raising $70 million.
Between April and June, pro-Biden entities raised $332.4 million, while pro-Trump groups collected $431.2 million, according to The Financial Times. By the end of June, Biden reported having $281 million available, compared to Trump’s $336.2 million.