US President Joe Biden’s re-election campaign has approximately $20 million in funds, slightly behind Republican front-runner Donald Trump’s $22 million.
US President Joe Biden‘s re-election campaign concluded in June with approximately $20 million in funds, financial disclosures have revealed. This places him slightly behind Republican front-runner Donald Trump, who reported a sum exceeding $22 million. The disclosed financial data points towards an impending competitive monetary contest leading up to the presidential election scheduled for November 2024.
President Biden, compared to previous re-election campaigns, has accumulated a smaller war chest at this stage. For instance, at the same point in 2011, Democrat Barack Obama possessed $37 million while Trump boasted over $56 million in June 2019.
In a recent announcement, Biden’s campaign revealed that when incorporating the Democratic Party’s accounts, their collective funds amounted to $77 million in reserve. These funds will undoubtedly play a pivotal role in supporting the President’s re-election efforts.
President Biden, a Democrat, is widely seen as the frontrunner in the Democratic nomination race, with no serious challenges expected. However, two challengers, anti-vaccine activist Robert F. Kennedy Jr. and self-help guru Marianne Williamson have reported their fundraising figures.
Kennedy Jr. managed to raise an impressive $6 million through June while Williamson received less than $1 million in donations.
On the Republican side, former President Trump’s campaign, which commenced in November, has outspent all other campaigns during the three months leading up to June.
According to filings submitted to election regulators, Trump’s campaign expenditure amounted to approximately $9 million. Notably, over $2 million of this sum was paid to Campaign Inbox LLC, a digital fundraising firm.
Florida Governor Ron DeSantis, considered the second leading contender for the Republican nomination based on opinion polls, has around $12 million in his campaign account, as per Reuters.
This figure is considerably lower than the $21 million accumulated by fellow Republican Tim Scott, a U.S. senator from South Carolina. Both DeSantis and Scott officially launched their campaigns in May, making their financial positions an area of interest to political observers.
Long-shot Republican candidates Doug Burgum and Vivek Ramaswamy disclosed putting millions of dollars of their own money into their campaigns. Burgum, the governor of North Dakota, lent about $10 million to his campaign and Ramaswamy, a former biotechnology executive, lent his about $15 million.
