Just a day after President Joe Biden announced he would not pursue re-election, the fundraising efforts of the Democratic Party surged dramatically, raising $100 million from donors via its primary fundraising platform, ActBlue. This generous support was recorded over the span of two days and highlighted by a live tracker maintained by Ryan Murphy from The Marshall Project. Although these figures are not official, they provide insight into the fundraising momentum prior to any formal disclosures that are typically required.
On Sunday alone, donations amounted to an impressive $66.9 million following the launch of Vice President Kamala Harris’s presidential campaign, marking the highest single-day fundraising total for ActBlue in the 2024 election cycle. This outpouring of financial support followed an eventful political backdrop, including previous high-stakes moments such as the Biden-Trump debate in September 2020, where significant donations were also recorded.
With the recent influx of donations, ActBlue has successfully raised $14 billion since its inception two decades ago. In contrast, its Republican counterpart, WinRed, launched in late 2019, has collected approximately $4.3 billion.
ActBlue shared an encouraging sentiment on social media, noting that many contributors mentioned making their first donations within the last 24 hours. This highlights how fresh momentum in political fundraising can inspire new grassroots support.
In addition, Future Forward, a super PAC aligned with Biden, reportedly secured $150 million in new commitments from major donors right after his announcement, while Swing Left, which supports the ultimate Democratic nominee, raised over $160,000 in a similar timeframe.
These developments place Harris’s campaign in a strong financial position, with noted support from prominent Democratic donors such as the Soros family. Historically, significant fundraising spikes for Biden have occurred after pivotal moments in the election cycle, including a debate loss to Trump and Trump’s recent felony indictment.
Despite the competitive fundraising landscape—where pro-Biden groups gathered $332.4 million and pro-Trump groups $431.2 million between April and June—the Democratic Party is showing resilience and adaptability, bolstered by grassroots mobilization and substantial financial backing.
This surge in funding reflects a renewed enthusiasm among Democratic supporters, offering a hopeful outlook as the party gears up for the upcoming election cycle. The ability to attract new donors can bring fresh energy and momentum to the campaign.