Just a day after President Joe Biden announced he would not pursue a second term, the Democratic Party experienced a significant fundraising surge, collecting $100 million through ActBlue, its primary fundraising platform. This impressive figure was reported over a two-day period and is detailed on a live tracker overseen by Ryan Murphy from The Marshall Project. While the amount is not yet official, it provides insights into the party’s fundraising momentum ahead of required disclosures.
On Sunday, donors contributed $66.9 million to launch Vice President Kamala Harris’s presidential campaign, marking the largest single-day fundraising total for the 2024 election cycle via ActBlue. The previous peak was during the first presidential debate in 2020, highlighting the increasing urgency and interest among Democratic donors.
ActBlue has now raised a staggering $14 billion since its establishment two decades ago. This contrasts with WinRed, the Republican fundraising platform, which has amassed approximately $4.3 billion since its launch in 2019. ActBlue shared on social media that many contributors reported making their first donations in the wake of Biden’s announcement, indicating a fresh wave of grassroots support.
In the 24 hours following Biden’s announcement, Future Forward, a super PAC aligned with him, secured $150 million in commitments from major donors. Additionally, Swing Left, which has launched a fund to support the Democratic nominee, raised over $160,000 in the same time frame.
Prominent supporters of Harris’s campaign include Evercore founder Roger Altman, who expressed confidence in her financial backing, and significant donors like George and Alex Soros. Biden’s most noted fundraising days, prior to this surge, occurred after debates in which he faced off against Donald Trump, underlining how competitive moments can energize donor activity.
During the recent months, pro-Biden groups raised $332.4 million, while pro-Trump groups garnered $431.2 million. As of the end of June, Biden’s campaign had a remaining fund balance of $281 million compared to Trump’s $336.2 million.
This rapid influx of donations not only showcases a strong backing for Harris but also reflects an engaged and responsive Democratic base. As the 2024 election cycle heats up, the financial support for Democratic candidates could play a crucial role in both the primary and general election phases.
With the backing of influential donors and grassroots supporters alike, the Democratic Party appears to be building a solid foundation for the upcoming election season, fostering hope for renewed energy and commitment within their ranks.