President Biden is set to raise over $25 million at a fundraiser in New York City with former Democratic Presidents Barack Obama and Bill Clinton, billing it as the “most successful political fundraiser in American history.” The campaign has seen success with previous fundraisers, including a combined $7 million raised in Texas and $2.3 million raised in North Carolina. The largest single-day haul for Mr. Biden came after his State of the Union address when he raised $10 million. However, Thursday’s fundraiser is set to break records and highlight the cash gap between Mr. Biden and his expected general election opponent, former President Donald Trump.
The financial disparity between the two candidates is evident, with Trump raising $20 million in February and $8.8 million in January. Trump’s campaign has also faced legal bills and payments, with over $10 million spent on legal fees this year by his campaign and supporting PACs. In contrast, Mr. Biden’s campaign committees have more than double the cash on hand compared to Trump’s groups, with $155 million for Mr. Biden and $74 million for Trump as of late March. The Biden-Harris campaign aims to use their fundraising to reach voters and communicate the President’s record, vision for the future, and the stakes of the election.
Trump’s campaign has been actively fundraising as well, sending out emails mentioning Mr. Biden’s Thursday fundraiser and calling on supporters to donate to beat the “Obama-Clinton cartel.” The New York City fundraiser at Radio City Music Hall will host over 5,000 attendees and feature performances by musical guests such as Queen Latifah, Lizzo, and Ben Platt. The event will culminate in a discussion between Mr. Biden, Obama, and Clinton moderated by “The Late Show” host Stephen Colbert. The star-studded event is expected to draw high-profile donors and supporters.
The success of Mr. Biden’s fundraising efforts reflects a broader trend in the 2024 election cycle, with both candidates actively engaging in fundraising to support their campaigns. Biden’s ability to raise significant amounts of money through events like the New York City fundraiser demonstrates strong support from donors and supporters. The campaign’s focus on reaching voters and communicating the President’s message is a key strategy moving forward. With the financial advantage over his opponent, Mr. Biden can continue to fund his campaign efforts and mobilize resources for the upcoming election.
Overall, the record-breaking fundraising efforts by President Biden, alongside former Presidents Obama and Clinton, highlight the campaign’s momentum and financial strength. The success of the New York City fundraiser underscores the growing cash gap between Mr. Biden and former President Trump, with Biden’s campaign committees having more than double the cash on hand. As the election cycle progresses, fundraising will continue to play a crucial role in shaping the outcome of the 2024 election.
