In a significant fundraising surge, Democrats raised $100 million through their primary fundraising platform just a day after President Joe Biden announced he would not seek re-election. ActBlue, a political action committee and fundraising platform for Democratic causes, reported this achievement over the past two days, as tracked by developer Ryan Murphy from The Marshall Project.
On Sunday alone, donors contributed an impressive $66.9 million to kick off Vice President Kamala Harris’s presidential campaign, making it the most successful fundraising day in the 2024 cycle for ActBlue. This surpassed the previous high seen on September 30, 2020, during the first presidential debate between Biden and Trump.
This surge helped ActBlue reach a notable milestone, bringing its total cash raised to $14 billion since its inception two decades ago. In comparison, WinRed, which serves as the fundraising platform for Republicans and launched in late 2019, has raised approximately $4.3 billion.
ActBlue reported a wave of new small-dollar donors, with many expressing that it was their first time contributing, highlighting the grassroots support for the Democratic movement.
Additionally, Future Forward, a super PAC aligned with Biden, secured $150 million in new commitments from major donors within 24 hours of Biden’s announcement and endorsement of Harris. Swing Left, which supports the eventual Democratic nominee, also indicated it raised over $160,000 in the same timeframe.
Roger Altman, founder of Evercore, expressed confidence in Harris’s campaign, stating it would be well-financed, and noted the support from prominent Democratic donors like George and Alex Soros.
Historically, Biden has experienced notable fundraising spikes in response to competition with Trump, raising $28 million immediately following a decisive debate loss on June 27. In earlier circumstances, Biden secured $19.2 million in the aftermath of Trump facing felony convictions, while Trump’s allies generated $69 million from their campaign efforts during that period.
Between April and June, pro-Biden groups amassed $332.4 million, while pro-Trump groups collected $431.2 million, leading to Biden having $281 million on hand compared to Trump’s $336.2 million by the end of June.