Following President Joe Biden’s announcement that he would not seek re-election, Democrats raised $100 million from donors through ActBlue, their primary fundraising platform.
This funding surge occurred over just two days and was highlighted by a live tracker managed by Ryan Murphy from The Marshall Project. Although this figure is not official and comes from ActBlue’s internal tracking since its inception in 2004, it offers a glimpse into the organization’s fundraising momentum ahead of upcoming disclosures.
On Sunday alone, donations soared to $66.9 million, coinciding with the launch of Vice President Kamala Harris’s presidential campaign, marking the largest fundraising day in the 2024 election cycle for ActBlue. The second-highest donation day previously recorded was on September 30, 2020, during the first presidential debate between Biden and Trump.
With this recent influx, ActBlue has reached a significant milestone, having raised $14 billion since its establishment two decades ago. In contrast, WinRed, the Republican fundraising platform that began in late 2019, has raised approximately $4.3 billion, according to OpenSecrets.
ActBlue expressed excitement about the new engagement, noting an influx of first-time donors joining the grassroots movement. They made this announcement on X, formerly Twitter, emphasizing the motivation of new small-dollar contributions.
Additionally, within 24 hours of Biden’s announcement and endorsement of Harris, the super PAC Future Forward secured $150 million in new commitments from major donors. Swing Left reported raising over $160,000 shortly after Biden’s statement.
Roger Altman, founder of Evercore, stated that Harris’s campaign is poised to be “very well financed” and confirmed his support. Significant Democratic donors, including George and Alex Soros, have also expressed their backing for Harris.
Historically, Biden’s notable fundraising spikes have often followed pivotal moments, such as his response to being defeated by Trump in a debate, which netted approximately $28 million in a day. Following Trump’s conviction on 34 felony counts, Biden raised $19.2 million, while Trump and his affiliates collected $69 million during the following days, causing a brief crash of his campaign website. In May, the super PAC aligned with Trump reported raising $70 million.
From April to June, pro-Biden entities garnered $332.4 million, while pro-Trump groups raised $431.2 million. By the end of June, Biden’s campaign held $281 million, compared to Trump’s $336.2 million.