Following President Joe Biden’s announcement that he would not pursue re-election, Democrats successfully raised $100 million from contributors via their primary fundraising platform, ActBlue. This impressive total was reported within a two-day period, as tracked by Ryan Murphy from The Marshall Project. While the figures are not officially verified and stem from ActBlue’s extensive donation history since 2004, they reflect significant fundraising activity ahead of the obligatory disclosure period.
On Sunday alone, the campaign for Vice President Kamala Harris garnered $66.9 million, marking the largest single-day fundraising effort in the 2024 election cycle for ActBlue. The previous high for donations was recorded during the first presidential debate between Biden and Trump on September 30, 2020.
With the influx of donations that Sunday, ActBlue achieved a milestone of raising $14 billion since its inception two decades ago. In contrast, its Republican counterpart, WinRed, which started in late 2019, has collected approximately $4.3 billion as reported by OpenSecrets.
In a statement posted on X (previously Twitter), ActBlue highlighted the enthusiasm among new donors, mentioning the many first-time contributions received. Future Forward, a super PAC supporting Biden, reported securing $150 million in new commitments from major donors shortly after Biden’s announcement and his endorsement of Harris. Swing Left, which supports the eventual Democratic nominee, indicated it raised over $160,000 within 24 hours of the news.
Evercore founder Roger Altman expressed confidence in Harris’s campaign financing and pledged his support. Notable Democratic donors, including George and Alex Soros, have also thrown their backing behind her.
Historically, Biden has experienced significant fundraising boosts after moments of political tension. For example, he raised approximately $28 million following a debate defeat on June 27, and saw $19.2 million flow in after Trump’s felony conviction. Trump’s fundraising efforts around the same time were notable as well, with $69 million collected in the days following his conviction, resulting in a temporary crash of his campaign website. In total, pro-Biden groups raised $332.4 million between April and June, while pro-Trump groups amassed $431.2 million, with Biden holding $281 million by the end of June against Trump’s $336.2 million.