Donald Trump's campaign significantly outpaced President Joe Biden in fundraising last month, raising over $60 million more, as per federal filings. The surge in Republican fundraising was triggered by Trump's felony convictions. Biden's campaign, along with the Democratic National Committee, raised a solid $85 million in May and reported $212 million in the bank by month-end. This figure excludes an additional $40 million raised by Biden and his surrogates recently, as well as a $20 million donation from Michael Bloomberg to pro-Biden groups.
Trump's fundraising for May appeared to overshadow Biden's, with the Trump campaign and the Republican National Committee collectively raising a staggering $141 million. This included substantial donations following Trump's conviction on 34 felonies in the New York hush money case. Billionaire Timothy Mellon also contributed a remarkable $50 million to a pro-Trump super PAC post Trump's guilty verdict.
Despite Biden's strong fundraising, questions were raised about whether resources were being diverted to cover Trump's legal fees. Biden's campaign manager emphasized the importance of fundraising to reach and win over crucial voters, contrasting it with what was described as Trump's focus on PR stunts.
The latest FEC filings suggest that Democrats may still hold a financial edge in the 2024 presidential race. However, Trump's fundraising efforts are narrowing the gap well ahead of Election Day. The unprecedented fundraising figures underscore the changing landscape of presidential politics in the Trump era.
Trump's guilty verdict has paradoxically fueled a surge in donations, enabling his team to bolster advertising and infrastructure in key swing states. A pro-Trump super PAC, MAGA Inc., reserved $3.5 million for TV ads in Georgia and Pennsylvania, backed by Mellon's substantial contribution. The PAC reported a $68.8 million haul for May, ending the month with $93.7 million in reserves.
Meanwhile, independent candidate Robert F. Kennedy Jr. raised $2.6 million in May, primarily from running mate Nicole Shanahan. Kennedy's campaign spent more than it raised for the month. Biden received a significant boost from Bloomberg, who endorsed him and made substantial donations to pro-Biden groups.
The Biden campaign highlighted grassroots support from various sectors of society, attracting over 3 million new donors in May. The campaign emphasized the contrast between Trump's reliance on wealthy donors and their commitment to representing the diverse voices of America.
