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Biden stockpiles over $117 million for 2024 presidential race

By Jake Beardslee · January 15, 2024

In brief…

  • Biden raised over $97 million in Q4 2023, surpassing Obama but trailing Trump
  • Over half a million donors contributed, with most donations under $200
  • Campaign held 39 fundraisers and has over 130k monthly donors
  • $117 million cash on hand will help Biden's 2024 fight against Trump
  • Trump's Q4 numbers not yet released but he's expected to lead Iowa caucus
Biden announced a substantial $97 million fourth-quarter fundraising haul that outpaced Obama but fell short of Trump's totals from the comparable 2019 period as both parties stockpile cash for the 2024 presidential race.  The White House/Wikimedia

President Joe Biden and the Democratic Party brought in over $97 million during the final three months of 2023, according to figures released Monday by the Biden campaign. This sum marks a substantial fundraising haul for Biden’s reelection bid, surpassing what former President Barack Obama raised in the comparable 2011 quarter, but falling short of then-President Donald Trump’s $154 million fourth-quarter total in 2019.

Biden campaign manager Julie Chavez Rodriguez called it an “historic haul,” adding that the contributions “prove that the American people know the stakes and are taking action early to help defeat the extreme MAGA Republican agenda again,” according to Politico.

More than half a million contributors donated to Biden and the Democratic National Committee (DNC) in the last quarter, the campaign stated, with 97% of the donations under $200. According to the Biden team, the campaign held 39 fundraisers in the past quarter and currently boasts over 130,000 monthly recurring donors. A competition to meet with Biden and Vice President Kamala Harris reportedly helped raise over $3 million on its own.

While Trump, the expected winner of Monday’s Iowa caucus, has not yet released his fourth-quarter 2023 fundraising totals, Biden’s ability to stockpile cash will prove important as the 2024 race heats up. The president’s reelection campaign has so far been relatively frugal, only recently expanding staff and spending.