The campaign to reelect President Joe Biden has raised more than $187 million in the first fundraising quarter of 2024, nearly double the $97 million the campaign raised in the last three months of 2023. That fundraising haul, the campaign said, has led to a $192 million cash-on-hand war chest, which it says is the highest total amassed by any Democratic candidate in American history.

It’s also more than double what former President Donald Trump has raised, $93 million, a figure the Biden campaign reveled in.

What You Need To Know

  • The Biden campaign raised more than $187 million in the first fundraising quarter of 2024, nearly doubling the previous three months of fundraising
  • Biden's campaign also touts a war chest more than doubling that of former President Donald Trump
  • Trump expects to top the record-breaking haul of Biden's Radio City Music Hall event with a fundraiser at a Palm Beach billionaire's house
  • Hedge fund manager John Paulson expects to raise $43 million for Trump at an event Saturday night

“The money we are raising is historic, and it’s going to the critical work of building a winning operation, focused solely on the voters who will decide this election — offices across the country, staff in our battleground states, and a paid media program meeting voters where they are,” said Julie Chavez Rodriguez, the manager for Biden's 2024 reelection campaign. “It’s a stark contrast to Trump’s cash-strapped operation that is funneling the limited and billionaire-reliant funds it has to pay off his various legal fees.”

Of particular note, the Biden-Harris campaign noted that 96% of all donations in this first quarter of 2024 were under $200, and that more than 212,000 donors are making subscriptions each month. And on top of the success of the star-studded "Evening with the Presidents" fundraiser at New York’s Radio City Music Hall — an event that brought in $25 million with more than 5,000 people in attendance — a sweepstakes fundraiser for a grand prize ticket to that event drew $9.5 million.

“Thanks to historic fundraising, like we saw this quarter, we have been able to expand our work on the ground in states so that we can connect more and more with the voters who are powering this campaign and who will turn out in November to reject Trump and MAGA extremists," said Jaime Harrison, chair of the Democratic National Committee, who added that the campaign has seen "record-breaking support from grassroots donors," singling out teachers and nurses — occupations the campaign highlighted as among the most common donors.

Trump, however, expects to increase his fundraising with an event at billionaire hedge fund manager John Paulson’s home in Palm Beach, Florida.

According to the Associated Press, the event is expected to bring in $43 million. The fundraiser is being co-chaired by Robert Bigelow, a Las Vegas-based businessman who had supported Florida Gov. Ron DeSantis’ presidential campaign; New York grocery billionaire John Catsimatidis; Linda McMahon, the former World Wrestling Entertainment executive and head of the Small Business Administration while Trump was president; casino mogul Steve Wynn; and former Georgia Sen. Kelly Loeffler, according to the invitation. 

“The response to our fundraising efforts has been overwhelming, and we’ve raised over $43 million so far,” Paulson, a hedge fund manager, said in a statement. “There is massive support amongst a broad spectrum of donors.”

Trump and the GOP announced earlier in the week that they raised more than $65.6 million in March.

The Associated Press contributed to this report.