(TheLastPatriotNews.com) – Former President Donald Trump, the frontrunner for the 2024 GOP presidential nomination, is beating President Joe Biden, the presumptive Democratic nominee, in the fundraising race, according to new data.
Their campaigns’ latest financial disclosures released on Saturday show that Trump had more than $22 million in the bank at the end of June 2023 compared with about $20 million for Biden, Reuters reports, as cited by Newsmax.
“The disclosures filed to the Federal Election Commission point to a competitive money race ahead of the November 2024 presidential election,” the news agency observes.
It points out that the president has collected “a smaller war chest than past presidents at this point in recent reelection campaigns.”
Thus, his former boss, Barack Obama, had amassed $37 million at this point in 2011, while in June 2019, Trump had $56 million in campaign money.
The report clarifies that while the FEC disclosures contain much of the funding behind the Trump and Biden campaigns, the money gathered by super PACs that support them is not counted in those.
Super PACs usually rake in “massive sums from the wealthiest donors.” This financial results for June are to be made public later this month.
Last Friday, the Biden reelection campaign said it had $77 million, including the Democratic Party’s accounts.
According to Reuters, Biden would not face a “serious challenge” in winning the Democrat’s presidential nomination after his most notable rival, Robert F. Kennedy Jr., reported a war chest of $6 million through June.
The only other Democrat bidder, self-help writer Marianne Williamson, raised less than $1 million.
According to the Trump campaign’s disclosures, it spent some $9 million in April-June 2023, more than any other presidential campaign. More than $2 million from that sum was paid to digital fundraising company Campaign Inbox LLC.
The Republican presidential candidate with the second biggest non-super PAC war chest reported to FEC was US Senator Tim Scott of South Carolina, with $21 million.
The campaign of Florida’s Governor Ron DeSantis reported about $12 million through June.
Two “long-shot” GOP candidates, North Dakota Governor Doug Burgum and entrepreneur Vivek Ramaswamy, disclosed funding their campaigns with their own money – the former put in $10 million, while the latter lent his campaign $15 million.
President Joe Biden's reelection campaign ended last month with about $20 million in the bank, trailing the $22 million plus reported by Republican front-runner Donald Trump, according to financial disclosures released Saturday. https://t.co/GbomstN1dy
— NEWSMAX (@NEWSMAX) July 16, 2023