Just one day after President Joe Biden announced that he would not pursue re-election, the Democratic Party managed to raise an impressive $100 million from donors through ActBlue, its primary fundraising platform. This significant influx of contributions took place over just a couple of days, according to a live tracker curated by Ryan Murphy, a developer at The Marshall Project. While the figure is not officially verified, it offers insight into the fundraising performance of the platform ahead of the forthcoming disclosure reports.
On a remarkable fundraising day, Sunday, donors contributed approximately $66.9 million in support of Vice President Kamala Harris’s presidential campaign launch, marking it as the highest fundraising day so far in the 2024 election cycle for ActBlue. The previous record for donations was set during the first presidential debate between Biden and Trump on September 30, 2020, according to Murphy’s tracker.
Thanks to this surge of contributions, ActBlue reached a monumental milestone, having raised $14 billion since its inception two decades ago. In contrast, its Republican counterpart, WinRed, which was launched in late 2019, has raised around $4.3 billion as per OpenSecrets.
ActBlue shared an encouraging message on social media, revealing a noticeable increase in first-time donations, which they described as “motivating” for fostering a grassroots movement. Additionally, Future Forward, a super PAC aligned with Biden, garnered $150 million in new commitments from high-profile donors within a day of Biden’s announcement and Harris’s subsequent endorsement. Similarly, the organization Swing Left reported raising over $160,000 in just 24 hours.
Notable Democratic donors, including Roger Altman, founder of Evercore, have expressed their support for Harris, assuring that her campaign will be financially robust. Furthermore, influential figures like George and Alex Soros have also pledged their backing.
Historically, Biden’s most productive fundraising days were linked to significant events, such as following his defeat by Trump during a debate in late June, which netted him around $28 million over two days. In a contrasting scenario, Trump raised an impressive $69 million in just a day following his conviction on multiple felony charges.
In the broader fundraising context, from April to June, Biden-aligned groups raised $332.4 million, while pro-Trump groups garnered $431.2 million, indicating a competitive financial landscape as the election cycle heats up.
This surge in contributions reflects the enthusiastic response from Democratic supporters and the party’s strong grassroots movement. As the campaign unfolds, the backing received during these critical moments will play a crucial role in shaping the candidates’ paths forward.
Overall, the dynamic fundraising scene illustrates both the challenges and opportunities ahead in the political arena, hinting at an energized base ready to support its preferred candidates.