Biden’s $130 MILLION war chest: Joe rakes in record-breaking $42 million in month before devastating special counsel report, while Trump enters 2024 with $33 million cash on hand
- Donald Trump, meanwhile, raised $19 million in the fourth quarter of 2023 and entered the election year with $33 million cash on hand
- The Biden team boasts that $130 million is the largest amount ever raised by a Democratic candidate
Joe Biden raised a whopping $42 million in cash in January and now has a $130 million war chest for the election year, with questions still surrounding his election campaign.
The Biden campaign announced the massive raise that they say is the largest ever raised by a Democratic candidate, as the fallout from Robert Hur’s special counsel’s devastating report continues.
Donald Trump, meanwhile, raised $19 million in the fourth quarter of 2023 and entered the election year with $33 million on hand, according to FEC data.
Separately, a pro-Donald Trump super PAC raised about $46 million in the second half of 2023 and ended the year with $23 million on hand.
Biden, 81, is now heading to the West Coast for a fundraiser with the Hollywood elite to continue growing his coffers.
The White House is still fighting growing doubts raised by the Hur report on the mishandling of classified documents, which claims he “reduced responsibilities.”
The money came from 422,000 unique donors and 97 percent of donations were less than $200.
The Biden campaign raised a whopping $42 million in cash in January, replenishing a $130 million war chest to start the election year
Biden will embark on a fundraising campaign west this week, with stops in Los Angeles and San Francisco to raise money. He will attend a fundraiser Tuesday hosted by Democratic Party boosters Cheryl and Haim Saban and Casey Wasserman, an athletic director.
According to Deadline, ticket prices for the event range from $3,300 to $250,000. For $25,000, donors can have their picture taken with the president, with proceeds going to the Biden Victory Fund, a joint fundraising committee.
Biden has been crisscrossing the country to raise money for his re-election bid as his administration remains mired in a series of crises in Washington.
Next month, Vogue’s longtime editor-in-chief will host a fundraiser for Biden in Paris during Fashion Week.
Last week, the president traveled to New York City for a trio of fundraisers attended by wealthy New Yorkers, including actor Robert De Niro.
The fundraising blitz came just days before special counsel Robert Hur released his report on Biden’s mishandling of classified documents, raising serious questions about the president’s “bad memory.”
Donald Trump, meanwhile, raised $19 million in the fourth quarter of 2023 and entered the election year with $33 million cash on hand, according to FEC data
The weekend before, Biden teamed up with major donors on a fundraiser through California and Nevada, including an event at filmmaker George Lucas’ $32 million home in Los Angeles.
His war chest was boosted by a series of star-studded fundraising events, including one with singer-songwriter James Taylor and three days in California for meetings with Steven Spielberg, Barbra Streisand, Shonda Rhimes, Rob Reiner and David Geffen.
Trump is embroiled in legal troubles, the costs of which have been partly borne by his campaign. Last week, Trump was ordered to pay $355 million for misrepresenting the value of his New York properties.
Trump has already been ordered to pay $83 million to writer E. Jean Carroll in her defamation lawsuit, which followed a $5 million damages award in a separate lawsuit that found him liable for sexually assaulting her.
With these obligations, while facing a mountain of legal fees in his four criminal trials, Trump may be forced to try to secure bail. Recent campaign finance reports showed that PACs tied to Trump had paid $50 million in legal fees.
A GoFundMe has been set up to help pay for Trump’s legal costs and has raised $535,000.