Harris outpaces Trump in fundraising by nearly $150 million in August

US Vice President and Democratic presidential candidate Kamala Harris, 59, has surged ahead in the fundraising race against former President and her Republican rival Donald Trump, 79, raising nearly $150 million more than Trump in the month of August. Federal Election Commission (FEC) filings reveal that Joe Biden’s campaign — now Harris’s campaign after the incumbent President’s departure from the race — raised $678.2 million between January 2023 and August 31, 2024, compared to Trump’s $309.2 million.
The Harris campaign ended August with $235.5 million cash on hand, significantly more than Trump’s $134.6 million.
Harris gained momentum after President Joe Biden dropped out from the White House race, and she officially entered the race in July. In August alone, her campaign raised $189.6 million, while Trump’s campaign managed only $44.5 million.
Harris’s fundraising spike continued after her September 10 first presidential debate with Trump, raking in $47 million in a single day.
Harris’s most lucrative fundraiser yet took place on Sunday in New York City, where she raised $27 million. During the event, she promised to deliver a speech on the economy, addressing the rising costs of homeownership and grocery bills.
“We’ve seen incredible support since Kamala Harris entered the race. The energy around her campaign is unlike anything we’ve seen in a long time,” Harris’s campaign spokesperson James Singer was quoted as saying by Forbes.
Trump’s largest single-day fundraising came after his May conviction, when his campaign raised $52.8 million. However, Harris surpassed that, raising $81 million within 24 hours of launching her campaign. Harris’s selection of Minnesota Governor Tim Walz as her running mate further fuelled donations, bringing in $36 million in a day.
While official September fundraising numbers are pending, Harris continues to outperform Trump.
Super PACs supporting Harris have spent $167 million since July, while those supporting Trump spent $55.2 million.
However, Trump still has an edge among independent political groups, with PACs backing him having raised $329.4 million, compared to $256.6 million supporting Harris.
The Democratic Party is also ahead in July, raising $385.5 million compared to the Republican Party’s $331.1 million. The Harris campaign has outspent Trump significantly, using $173.8 million in August compared to Trump’s $61.3 million.
Billionaire donors are also playing a significant role. Timothy Mellon remains Trump’s top backer, donating $115 million. Harris has received backing from Netflix co-founder Reed Hastings, former Meta COO Sheryl Sandberg, and philanthropist Melinda Gates.
Over 100 venture capitalists have also thrown their weight behind Harris, including billionaires Mark Cuban and Indian-American Vinod Khosla.