The Biden campaign raised roughly $53 million in February, giving it $155 million in cash on hand as it seeks to build a major fundraising advantage over the Trump campaign for the general election.
The campaign announced February was its largest grassroots fundraising month since President Biden launched his reelection bid last April, and it was the fourth straight month where the operation broke its own grassroots fundraising haul.
The campaign boasted that its $155 million in cash on hand is the highest-ever total for a Democratic candidate at this point in the cycle.
“We’re proud of the record-breaking fundraising machine we’ve built that is going toward reaching the voters about the stakes of this election – to expanding our footprint in the states, investing in paid media, and having our principals barnstorm the country. And we’re just getting started,” Biden campaign manager Julie Chavez Rodriguez said in a statement.
“Donald Trump and the RNC’s numbers and operation tell a different story – one of division, ineptitude, and a fundamental inability to build a coalition that can win 270 electoral votes,” she added. “The stakes of this election couldn’t be higher for the future of this country, and our historic fundraising operation is making sure every voter knows these stakes come November.”
The Biden campaign has already touted strong fundraising numbers in early March. The campaign said it brought in $10 million in donations in the 24 hours after Biden’s State of the Union address in early March, making it the largest 24-hour haul of the campaign so far.
The campaign earlier this month announced a $30 million six-week advertising spend, which is more spending in six weeks than in all of 2023 after the president announced his reelection bid in April.
Meanwhile, fundraising is a particular point of concern for the RNC, and for the Trump campaign as he burns through millions of dollars to pay his legal fees.
The RNC reported having just more than $8 million in cash on hand at the beginning of 2024, following an underwhelming fundraising year in 2023.