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Trump leads Biden in monthly campaign fundraising for first time

Bill Allison, Bloomberg News on

Published in Political News

Donald Trump raised more money last month than Joe Biden for the first time in this election cycle, but the president’s campaign still holds a wide financial edge over his Republican rival.

Biden and the Democratic Party raised $51 million in April, compared to the $76 million Trump and the Republican National Committee amassed, according to statements from the campaigns. The president entered May with $192 million cash on hand, more than double what his opponent reported having in the bank.

Trump’s fundraising boost comes on the heels of attending several high-dollar fundraisers, including a Palm Beach event hosted by billionaire John Paulson, and garnering support from major donors in the oil and gas sector.

The campaigns, political parties and key super political action committees supporting them filed their monthly reports to the Federal Election Commission. Here’s how they stack up:

JOE BIDEN

—Biden and the Democratic National Committee raised $51 million in April and ended the month with $192 million cash on hand

 

—Future Forward PAC, Biden’s designated super PAC, raised $16 million and had $57 million cash on hand

Biden’s reelection effort has amassed a record amount for a Democratic nominee at this point in the election season. While his April fundraising haul was eclipsed by Trump’s, he still has a sizable advantage in cash on hand. Unlike Trump, who faced an expensive primary campaign, Biden faced only token opposition and has been able to stockpile cash for November.

His major fundraisers in April included an event hosted by Michael Douglas, the actor and film producer who played Gordon Gekko in the 1987 film “Wall Street,” but the campaign’s small-dollar donors accounted for the majority of the haul. Bigger contributors include “Family Guy” creator Seth MacFarlane, Facebook co-founder Dustin Moskovitz, Bain Capital’s Josh Bekenstein and hedge fund manager Tom Steyer.

The campaign added one million supporters to its email list in the month. Recurring donors accounted for $5.5 million of the total, and there are 225,000 donors who have committed to contributing every month.

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