According to Fox News, President Trump’s re-election campaign has raised $30.3 million in the first quarter of this year, which is far more than any other Democrat has made. Nearly 99% of the donations that Trump’s campaign has received were for $200 or less. The average donation of the campaign is $34.26. In total, the campaign has $40.8 million in cash on hand, which is almost unheard of for a president so early on in the campaign.
Trump’s uncanny ability to raise campaign funds has only been matched by the Republican National Committee, which has brought in $45.8 million in the first quarter. According to The Associated Press, all together, Trump’s election campaign has reported $82 million in the back.
Trump’s intention to run for reelection was announced shortly after he was sworn into office in 2017, which is far earlier than any other president in the past. In fact, former President Barack Obama made his announcement for the 2012 election in April of 2011, in which he has $2 million on hand at the time. Before his reelection, Obama was able to raise more than $720 million for his reelection. Trump’s target for his reelection in 2020 is $1 billion.
Bernie Sanders, one of Trump’s Democratic challengers, was in the lead after taking in $18.2 million in the first quarter. Sen. Kamala Harris follows behind with $12 million. Former Rep. Beto O’Rourke has $9.4 million, while Pete Buttigieg and Sen. Elizabeth Warren follow respectively behind with Buttigieg having $7 million and Warren with $6 million.
Trump’s campaign efforts with the RNC are divided into two groups: Trump Victory, which is the account used for high-dollar donations, and the Trump Make America Great Again Committee, which is the digital fundraising operation known as “T-Magic.” Together, the groups have raised a total of $165.5 million since 2017.
As opposed to Trump’s 2016 campaign, the campaign is set to release a traditional “bundling” program, which will be introduced in the upcoming weeks. “Bundlers” are donors that are within the mid-tier who bring in donations from the associates.
Ever since online fundraising was introduced two decades ago, the Republicans have trailed behind the Democrats. Trump has finally closed that gap while pushing the small-time recurring donors to the GOP party.
According to Ronna McDaniel, the RNC chairwoman, Trump’s campaign has already seen eight different seven-figure fundraising days and has received money from over 1 million new donors online. According to the RNC, they’re planning on spending $30 million on expanding Trump’s email list. They’ve also recently extended their headquarters to Virginia, where they will invest in creating an app.
When Trump swore off of outside sources for donations in 2015, he said: “I’m using my own money. I’m not using the lobbyists’. I’m not using donors’. I don’t care. I’m really rich.” But once he won the GOP nomination, he changed his mind and bowed down to the financial pressures of financially supporting a general-election campaign.
As his iconic “Make America Great Again” hats hit the mainstream, he raised millions of dollars through online sales. Trump loaned $66 million of his own money in 2016 to fund his campaign, but he hasn’t done the same for his reelection effort. Some of his aides have stated that President Trump doesn’t plan on that changing.