U.S. Vice President Kamala Harris’s campaign has achieved a remarkable fundraising milestone, amassing approximately $500 million since her nomination as the Democratic presidential candidate. This unprecedented sum, reported by Reuters, reflects a surge in donor enthusiasm as the November 5 election approaches.
According to sources familiar with the campaign’s finances, this impressive amount was raised within just four weeks after Harris entered the race on July 21. The influx of campaign funds is crucial for financing advertising efforts and mobilizing voters, crucial elements for swaying undecided voters and ensuring high turnout at the polls.
Harris’s entry into the presidential race followed President Joe Biden’s decision to step aside from the top of the Democratic ticket. The transition reinvigorated funding that had waned after Biden’s challenging debate performance against Republican Donald Trump. In a significant early boost, Harris raised $200 million in her first week of campaigning, rapidly securing support to become the party’s nominee.
In July alone, Harris’s team raised $310 million, pushing the total funds raised by Harris and Biden before Biden’s withdrawal to over $1 billion. This rapid achievement marks the fastest accumulation of such a substantial fundraising amount in history.
In comparison, Trump’s campaign reported raising $138.7 million in July, with a cash reserve of $327 million. Although Trump’s campaign outpaced Biden’s in the second quarter, Harris’s fundraising efforts have continued to gain momentum. By August, her campaign had accumulated $377 million, with small-dollar donors contributing significantly as thousands attended her rallies in key swing states.
During the 2020 election cycle, Biden’s campaign committee alone raised $1.04 billion, with an additional $620 million from outside groups, according to OpenSecrets, an organization tracking political finances.
At the Democratic National Convention in Chicago, Harris praised Biden, while Biden highlighted his record and encouraged support for Harris and her running mate, Minnesota Governor Tim Walz. Former President Barack Obama, another major fundraising asset, spoke at the convention on August 20 and has committed to assisting Harris with additional fundraising efforts.
Despite her strong financial position, Harris continues to position herself as an underdog in the race against Trump, aiming to prevent complacency among her supporters and donors.
