After President Joe Biden announced that he would not pursue re-election, Democrats managed to raise $100 million from donors via ActBlue, their primary fundraising platform, within a span of just two days.
According to a live tracker created by Ryan Murphy of The Marshall Project, this significant fundraising amount, although unofficial as it is based on ActBlue’s record from 2004, highlights the group’s financial activity ahead of any formal disclosures. On Sunday alone, donations reached a remarkable $66.9 million following the launch of Vice President Kamala Harris’s presidential campaign, making it the most successful fundraising day so far in the 2024 election cycle for ActBlue. The previous record for a fundraising day was set on September 30, 2020, during the first presidential debate between Biden and Trump.
With the influx of donations on Sunday, ActBlue announced that it has raised a total of $14 billion since its inception two decades ago. In contrast, WinRed, a Republican fundraising platform established in late 2019, has garnered approximately $4.3 billion in total donations, as reported by OpenSecrets.
ActBlue commented on the surge in contributions, noting that many donors indicated it was their first time contributing. This response has inspired the group, emphasizing the growth of small-dollar donors joining the grassroots movement.
Additionally, Future Forward, a super PAC supporting Biden, secured $150 million in new commitments from major donors shortly after his announcement and endorsement of Harris. Swing Left, which supports the eventual Democratic nominee, reported raising over $160,000 within 24 hours following the announcement.
Roger Altman, founder of Evercore, expressed confidence that Harris’s campaign would be “very well financed” and confirmed his support for her candidacy. Prominent Democratic donors, including George and Alex Soros, have also shown their backing for Harris.
Historically, Biden’s strongest fundraising days have occurred shortly after significant events, such as after his debate defeat to Trump on June 27, when he raised about $28 million in the following days. Notably, after Trump was convicted on 34 felony counts, Biden raised $19.2 million, while Trump and his affiliates raised $69 million during a similar timeframe. In an incident reflecting the high interest in Trump’s campaign, his website briefly crashed due to the influx of donations. In the broader context, pro-Biden groups secured $332.4 million from April to June, while pro-Trump groups received $431.2 million, according to The Financial Times. By the end of June, Biden had $281 million in funds compared to Trump’s $336.2 million.