Former President Donald Trump and his political operation outraised President Joe Biden for the second month in a row in May. Trump's campaign reported a staggering $141 million in donations, fueled by a flood of contributions following his criminal conviction in a New York case. In contrast, Biden and the Democrats raised $85 million in May, leaving them with a cash stockpile of $212 million as they entered June.
Trump's main committee had over $116.5 million in cash reserves at the end of May, while Biden's main campaign account held $91.6 million. This marked a significant shift from the previous month when Biden had a $35 million cash advantage.
Biden's campaign emphasized the importance of their fundraising efforts in building a robust campaign infrastructure. They highlighted the hiring of over 1,000 staffers across battleground states and expressed confidence in their ability to reach and win over crucial voters.
On the fundraising front, Biden recently received substantial support, including a record-breaking $30 million raised at an event featuring prominent figures like former President Barack Obama and celebrities such as George Clooney and Julia Roberts. Additionally, former New York Mayor Michael Bloomberg contributed nearly $20 million to support Biden's reelection bid.
Meanwhile, Trump's political ambitions received a significant boost with a $50 million donation to a super PAC backing his campaign from billionaire Timothy Mellon. This donation, along with other contributions, is fueling a planned $100 million advertising campaign over the summer.
Trump's campaign continues to face significant legal expenses, with over $3.6 million spent on legal bills in May alone. The Save America leadership PAC, Trump's primary vehicle for covering legal costs, has spent more than $83 million on legal expenses since he left office.
