President Joe Biden’s reelection campaign raised more than $97 million in the fourth quarter of 2023, giving him a campaign war chest of $117 million, while his Republican opponents spent lavishly in the GOP primary struggle.
According to his team, Biden’s cash on hand is a record for a Democratic presidential candidate at this point in the election cycle.
“This historic haul sends a clear message: the Team Biden-Harris coalition understands the stakes of this election and is ready to win this November,” Biden campaign manager Julie Chavez Rodriguez said in a statement.
The campaign of former President Donald Trump, the Republican nomination frontrunner, has not revealed its fourth-quarter fundraising data. Neither has Florida Governor Ron DeSantis. The campaign of former UN Ambassador Nikki Haley raised $24 million in the fourth quarter.
“While most Republicans have yet to release their fundraising figures, we fully expect to lap them several times,” said TJ Ducklo, senior adviser to the Biden campaign.
Following a $71 million third-quarter fundraising haul, the Biden campaign reported having $91 million on hand at the beginning of October. In October, the Trump campaign had $37.5 million on hand, having raised $45.5 million in the third quarter.
Biden’s fourth-quarter haul, which includes funds earned between October 1 and the end of the year, was boosted by the campaign’s best fundraising month to date in December. Biden has already received $235 million from over 1 million donors since announcing his reelection run in April. According to the campaign, 97% of donations have been less than $200, with an average gift of $41.88.