US President Joe Biden’s campaign raised more money ahead of the November elections than that of his Republican rival Donald Trump, which analysts attribute to Biden’s status and support from Democratic predecessors.
That support will be on display Thursday at a fundraiser for Biden in New York City, where former presidents Barack Obama and Bill Clinton, both prominent Democrats, will be in attendance.
Biden’s campaign committee is outpacing Trump in both money raised from large contributions and small individual donations under $200, according to OpenSecrets, a research group that tracks money and influence in U.S. politics.
Large contributions represent about 55% of the $128.7 million Biden’s campaign committee has raised so far in the election cycle, OpenSecrets data showed, compared with 45% from small contributions.
For Trump, large contributions comprise 64% of the $96.1 million his campaign committee raised, compared to 36% from small contributions.
However, Trump has done better at raising money from outside groups, such as super PACs, which can receive unlimited donations but cannot coordinate directly with campaigns.
Outside groups supporting Trump raised $83.1 million, compared to $60.1 million from groups supporting Biden.
In total, Biden’s candidacy raised $188.8 million from his campaign committee and outside groups, compared to Trump’s $179.2 million.
It’s worth remembering that Democratic candidates raised more money to support their White House bids than their Republican opponents in every election cycle after 2004, when George W. Bush raised more money than his Democratic opponent John Kerry, according to data from OpenSecrets .
In the 2020 showdown between Biden and Trump, the Democrat raised more than $1.6 billion from his campaign committee and outside groups, the most any candidate has ever raised in a presidential race. Trump, by comparison, raised $1.1 billion.
However, more money is not always an indication of success. Trump beat Democratic candidate Hillary Clinton in 2016 after she raised $769.9 million, far more than the $433.4 million he raised.
