Donald Trump Raises More Money Than Joe Biden for First Time After Ramping up Big-Dollar Fundraisers

By Jace Dela Cruz

May 21, 2024 07:03 AM EDT

Former President Donald Trump raised more money in April than President Joe Biden for the first time in this election period.

TOPSHOT-COMBO-US-VOTE-DEBATE — TOPSHOT - (COMBO) This combination of pictures created on October 22, 2020 shows US President Donald Trump and Democratic Presidential candidate and former US Vice President Joe Biden during the final presidential debate at Belmont University in Nashville, Tennessee, on October 22, 2020.
(Photo : BRENDAN SMIALOWSKIJIM WATSONMORRY GASH/AFP/POOL/AFP via Getty Images)

Campaign Funds of Donald Trump Surpassed Joe Biden's For the First Time

According to Reuters, the surge in Donald Trump's campaign funds came as the former president intensified his joint undertakings with the Republican National Committee (RNC) and conducted big-dollar fundraisers.

Joe Biden's campaign and the Democratic National Committee (DNC) reportedly raised $51 million last month, below the $90 million they raised in March. On the other hand, Trump and the Republican Party reported raising $76 million in April.

Trump's record-setting haul came the same month he participated in a massive fundraiser at the home of billionaire investor John Paulson in Florida, where the former president raised a record $50.5 million.

However, the Biden campaign continued to have a bigger war chest than Trump's. It reported to the Federal Election Commission that it ended April with around $84 million in the bank, while the Trump campaign reported having $49 million.

It also said the Biden campaign, including the money from the Democratic National Committee and other groups, entered May with $192 million cash on hand, more than double what the Trump campaign reported remaining in its coffers.

The Biden campaign touted that they have the highest cash-on-hand money for any Democratic candidate in history "at this point in the cycle," and that Trump "trails badly in cash on hand," Fox News reported.

Is Donald Trump Leading the 2024 Presidential Race?

The increase in campaign money became a much-needed boost for Donald Trump, who has often lagged behind Joe Biden in fundraising and grappled with ballooning fees linked to his ongoing criminal and civil court cases.

As the November election approaches, recent national polls reveal Biden and Trump are tied in standing. However, newer polls show that Trump is leading in the battleground states expected to be crucial in the White House race. Surveys also show voters preferred Trump over Biden on economic issues like inflation.