Harris raises US$310 million in July, topping Trump in money race
US VICE-PRESIDENT Kamala Harris raised a record US$310 million in July, according to her campaign, giving the presumptive Democratic nominee a cash advantage over Republican Donald Trump.
Harris’ haul, which includes money raised for her campaign, the Democratic National Committee and state parties, more than doubles the US$138.7 million Trump, the GOP nominee, raised in July. She started August with US$377 million cash on hand, the largest war chest at this point in an election cycle and more than the US$327 million Trump reported having in the bank.
The campaign said the July haul was aided by “the best grassroots fundraising month in presidential history.”
The flood of money highlights how Harris, who only entered the race on Jul 21 after President Joe Biden’s decision to end his reelection bid, has galvanised Democratic voters and donors who have quickly coalesced behind a new standard-bearer. Biden saw donations freeze towards the end of his campaign, with donors dismayed by a disastrous debate performance by the sitting president.
The tally marks a worrisome development for Trump’s campaign, which saw its fundraising surge in the second quarter to erase what had been a massive advantage for Biden. The Republican former president started July with US$45 million more cash on hand than Biden.
Harris’ total includes US$200 million that she raised in the week after Biden ended his candidacy and endorsed her for the Democratic nomination.
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Grassroots donors giving less than US$200 accounted for 94 per cent of the 4.2 million donations received, the campaign said. Of the three million individuals who gave, two million made their first donation, and 60 per cent were women. Coalition groups, including Black Women for Harris and Latinas for Harris, raised US$20 million.
Harris is seeking to become the first Black woman president in US history.
“The tremendous outpouring of support we’ve seen in just a short time makes clear the Harris coalition is mobilised,” said Harris campaign manager Julie Chavez Rodriguez.
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Harris has received support from some prominent big-US dollar Democratic donors. Hedge fund manager George Soros signalled his support shortly after Biden endorsed her, as did party backers on Wall Street and in Hollywood. billionaires Mark Cuban, Reid Hoffman and Vinod Khosla were among the more than 200 venture capitalists who publicly backed her campaign on Jul 31.
The campaign has spent heavily on media and resources to get out the vote in November. It has more than 260 offices in battleground states, staffed by more than 1,400 people. The campaign is also spending US$50 million on paid media ahead of the Democratic National Convention that starts in Chicago on August 19.
More than 170,000 new volunteers have joined the campaign, which held 2,300 events mobilising supporters in battleground states last weekend. BLOOMBERG
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