Biden and Trump Battle in Fundraising as Campaigns Gear Up for 2024

In a crucial period leading up to the 2024 presidential election, President Joe Biden’s campaign reported a noticeable drop in fundraising for April, securing $51 million, down from $90 million in March. Despite this decline, Biden's campaign and affiliated committees maintain a formidable $192 million war chest, the largest for any Democratic candidate in history. This financial reserve is expected to provide significant support as Biden faces off against former President Donald Trump.,w_1160,c_fill/f_webp

Trump's campaign, on the other hand, raised over $76 million in April, benefiting from intensified joint fundraising with the Republican National Committee and headline-generating high-dollar events. This boost comes even as Trump contends with ongoing legal battles, which have required substantial financial resources. Trump's campaign ended April with $49.1 million in the bank, slightly up from $45.1 million at the end of March.

The Biden campaign has highlighted strong grassroots enthusiasm, with April marking the best month for recurring donations and a significant increase in supporter engagement. The campaign has invested in a robust ground operation, with more than 150 offices and over 500 staffers in key battleground states.

Conversely, Trump's legal expenses remain a substantial financial burden. His leadership PAC, Save America, reported spending $3.3 million on legal fees in April, contributing to a total of nearly $80 million on legal costs since 2021. To manage these expenses, funds have been redirected from other Trump-affiliated committees.

As both candidates ramp up their fundraising efforts, Biden is set to participate in a high-profile fundraiser in Los Angeles with former President Barack Obama and Hollywood stars like George Clooney and Julia Roberts. Trump continues to leverage his base and high-dollar donors to bolster his campaign amid his legal challenges.

The financial strategies and fundraising capabilities of both campaigns will be pivotal as they prepare for the 2024 election, with Biden's substantial cash reserve and Trump's dynamic fundraising efforts shaping the race ahead.