Vice President Kamala Harris raised a staggering $310 million in funding in July, her campaign announced Friday morning, in what she touted as “the largest fundraiser of the 2024 cycle.”
The presumptive Democratic presidential nominee's fundraising haul was more than double the $138.7 million Donald Trump's campaign announced Thursday that the former president raised last month.
Harris has enjoyed a surge in fundraising in the 12 days since President Biden, in a shock announcement, ended his reelection campaign and endorsed his vice president to succeed him at the top of the Democratic Party ticket.
The president’s immediate endorsement of Harris sparked a flurry of endorsements for the vice president from governors, senators, House members and other Democratic Party leaders. Within 36 hours, Harris announced she had secured her party’s nomination by winning the verbal backing of a majority of the nearly 4,000 delegates to this month’s Democratic National Convention.
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Vice President Kamala Harris speaks during a campaign rally, Tuesday, July 30, 2024, in Atlanta. (AP Photo/John Bazemore) (AP Photo/John Bazemore)
Harris' campaign, in announcing its July fundraising haul, noted that more than $200 million was raised during the first week after the vice president replaced Biden. They called it the “best fundraising week in history” and touted that July was the “best grassroots fundraising month in presidential history.”
According to Harris' campaign, two-thirds of monthly fundraising came from first-time donors. They also noted that, as of the end of July, they had a massive reserve fund of $377 million.
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The July fundraising haul, which began as Biden’s campaign and quickly morphed into Harris’s campaign, is larger than the $127 million the Biden-Harris ticket raised during the month of June. Nearly $40 million of that came late in the month, after Biden’s disastrous performance in the June 27 debate against Trump.
In a show of support for the 81-year-old president, donors initially shelled out large sums of money for Biden in the wake of the debate.
President Biden and former President Trump debate on June 27, 2024, in Atlanta, Georgia. (Fake Images)
But Biden’s halting and unclear debate performance also immediately fueled questions about his physical and mental abilities to remain in the White House for another four years, and spurred a growing chorus of calls from within his own party for the president to end his bid for a second White House term. The brief surge in fundraising didn’t last, and by early July it began to slow significantly.
Meanwhile, Trump's July haul represented an increase of more than $25 million from the $112 million the former president raised during the month of June.
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Trump's campaign also reported having $327 million in cash on hand at the end of July and said in a statement that “these numbers reflect continued momentum with donors at all levels and provide the resources for the final 96 days until victory on November 5.”
A couple of hours later, Trump, in a social media post, highlighted his fundraiser, saying: “Spectacular support from the great American patriots who are donating to our campaign for President of the United States.”
Republican presidential candidate and former President Donald Trump dances at the conclusion of a campaign rally, Saturday, July 27, 2024, in St. Cloud, Minn. (AP Photo/Alex Brandon) (AP Photo/Alex Brandon)
Harris' campaign has been highlighting its fundraising surge since the vice president replaced Biden at the top of the ticket.
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Earlier last week, Harris' campaign announced it had raised $81 million in the 24 hours after Biden announced he was suspending his campaign.
The one-day haul easily surpassed the nearly $53 million Trump took in two months ago in the first 24 hours after the former president was found guilty of 34 felonies at his criminal trial in New York City.
Former President Trump appears at a rally at Van Andel Arena on July 20, 2024 in Grand Rapids, Michigan (left). Vice President Harris speaks to NCAA championship teams on the South Lawn of the White House in Washington, DC (right). (Left: Bill Pugliano/Getty Images, Right: Ting Shen/Bloomberg via Getty Images)
The Biden campaign and the Democratic National Committee enjoyed a fundraising advantage over Trump and the Republican National Committee earlier this year. But Trump and the RNC outraised Biden and the DNC by $331 million to $264 million during the second quarter from April to June 2024.
Fundraising, along with polling, is a key metric in campaign politics and a measure of a candidate's popularity and the strength of his or her campaign. Money raised can be used to, among other things, hire staff, expand grassroots outreach and voter mobilization efforts, pay for the production and distribution of television, radio, digital media, and mail-in ads, and for candidate travel.
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