Just one day after President Joe Biden announced he would not seek re-election, Democrats garnered a remarkable $100 million in donations through their primary fundraising platform, ActBlue. This impressive amount was reported by Ryan Murphy from The Marshall Project, although it remains unofficial and based on ActBlue’s extensive donation tracker since its inception in 2004.
On Sunday, a significant $66.9 million was raised to kick off Vice President Kamala Harris’s presidential campaign, marking the highest single-day fundraising total in the 2024 election cycle for ActBlue. The second-largest fundraising day occurred on September 30, 2020, coinciding with the first presidential debate between Biden and Trump.
With this recent surge, ActBlue has now crossed the $14 billion threshold in total funds raised since its launch twenty years ago. In comparison, WinRed, the Republican fundraising platform that started in late 2019, has raised approximately $4.3 billion during its operation, according to OpenSecrets.
ActBlue expressed enthusiasm over the influx of new supporters, noting that many individuals reported making their first-ever political donations in the wake of Biden’s announcement. This reflects a growing grassroots movement as small-dollar donors continue to be key players in financing campaigns.
Future Forward, a super PAC aligned with Biden, received $150 million in new commitments from major donors shortly after his announcement. Similarly, the group Swing Left reported raising over $160,000 within 24 hours to support the eventual Democratic nominee.
Roger Altman, founder of Evercore, affirmed that Harris’s campaign will be “very well financed,” with prominent Democratic donors such as George and Alex Soros also expressing their support.
Historically, Biden has witnessed significant fundraising spikes in response to key political events. For instance, after a debate loss to Trump on June 27, previous fundraising efforts netted approximately $28 million in just over a day. In contrast, Trump raised a staggering $69 million following his own legal challenges this year, with his campaign site briefly crashing due to the donation influx.
As political landscapes fluctuate, the current surge in Democratic fundraising serves as a testament to the party’s evolving strategies and the vital role of grassroots support. This development not only underscores the excitement around Harris’s campaign but also highlights the importance of leveraging both new and existing donors to build momentum for the upcoming elections. The Democratic party appears well-positioned for the challenges ahead, tapping into a growing base of enthusiastic contributors.
Summary: Following President Biden’s announcement to step aside for re-election, Democrats raised an impressive $100 million in a rapid fundraising surge, with Vice President Kamala Harris’s campaign leading the way with $66.9 million in a single day. ActBlue achieved a milestone by surpassing $14 billion in total funds raised, reflecting the power of grassroots involvement and signaling a robust start for the electoral cycle.