Tag Archive for: fundraising

Donald Trump Approaches Inauguration With Record-Setting Fundraising, Détente With Corporate Donors

President-elect Donald Trump is approaching his second inauguration with record-setting fundraising, amassing over $200 million since Election Day, The New York Times reported.

Trump’s allies have raised over $200 million to fund his political operation, inauguration and his legally mandated presidential library, The New York Times reported, citing four sources involved in the fundraising. Some of the donors sending funds for the inaugural reportedly include Amazon, MetaPfizer, OpenAI and numerous cryptocurrency companies.

With $150 million already raised — and more expected to follow — the haul will top Trump’s $107 million reported from his 2017 inauguration, according to The New York Times. Trump has reportedly told people throughout the Christmas season that he’s raised over $200 million since the election; his team also noted to the outlet how many people are eager to donate since his win against the 2024 Democratic presidential nominee, Vice President Kamala Harris.

Among the fundraisers, lobbyist David Tamasi dismissed the claim corporations were donating in order to avoid Trump’s perceived wrath. It is possible, however, some donors are providing funds in order to make amends for previously being distant from Trump, Tamasi told the outlet.

“It is a time-honored D.C. tradition that corporations are enthusiastically embracing this cycle in all manners, largely because they were on the sidelines during previous Trump cycles,” Tamasi told the outlet. “They no longer have to hedge their political bets.”

Inaugural committees are allowed to accept unlimited donations from corporations and individuals but are not allowed to accept anything from foreign nationals, The New York Times noted. Many corporations reportedly offer inaugural funds representing their willingness to work with an incoming administration.

Some major contributions include $1 million from ride-share company Uber and cryptocurrency entities such as XRP and Robinhood, who pledged $5 million and $2 million, respectively, the outlet reported.

“We look forward to working with President Trump and the incoming administration to drive positive change in the markets, be an active voice for customers and pursue our mission to democratize finance for all,” Robinhood’s Vice President of Global Government and External Affairs, Mary Elizabeth Taylor, said in a statement to the outlet.

AUTHOR

Fiona McLoughlin

Contributor.

RELATED ARTICLE: Amazon Gives $1,000,000 To Trump Inaugural Fund

EDITORS NOTE: This Daily Caller column is republished with permission. ©All rights reserved.

Trump Campaign Says It Raised Well Over $100 Million In August

Former President Donald Trump raised about $130 million in August, his campaign announced Wednesday night.

Trump’s fundraising numbers are down slightly from the nearly $140 million the former president brought in during July, when his campaign initiated a fundraising push days after he was shot by a failed assassin on July 13. The Harris campaign has not released its August fundraising figures, however, it likely eclipsed Trump as Harris campaign manager Jen O’Malley Dillon released a memo on August 25 where she claimed the vice president had raised $540 million since President Joe Biden dropped out on July 21, including $82 million during the week of the Democratic National Convention.

“With Republicans united and a growing number of Independents and disaffected Democrats crossing partisan lines, the Trump-Vance campaign has momentum for the final stretch of the race,” Trump Campaign senior advisor Brian Hughes said in the press release announcing the fundraising numbers. “These fundraising numbers from August are a reflection of that movement and will propel President Trump’s America First movement back to the White House so we can undo the terrible failures of Harris and Biden.”

Contrary to the Trump campaign’s enthusiasm, GOP leaders are raising the alarm behind closed doors and publicly about how a large financial disparity has emerged between the two parties. Liberals have commanding ad spending leads in almost all competitive Senate races and the Congressional Leadership Fund, the primary super PAC aimed at electing Republicans to the House, is $70 million behind its Democratic counterpart in ad spending, according to Politico.

“The only thing preventing us from having a great night in November is the massive financial disparity our party currently faces,” National Republican Senatorial Committee executive director Jason Thielman previously told the Daily Caller News Foundation. “We are on a trajectory to win the majority, but unless something changes drastically in the next six weeks, we will lose winnable seats.”

State-wide Republican parties in a number of states with close legislative elections in November, like Arizona and Wisconsin, have also been outraised and outspent by their Democratic counterparts.

Before Democrats swapped Biden for Harris, the Trump campaign had overcome his Democratic rival’s cash advantage, Politico reported. The Trump campaign claims to have had $295 million in cash on hand at the end of August.

The average donation to Trump was $56, with 98% of donations being under $200, according to the campaign.

Trump is no stranger to fighting campaigns at a financial disadvantage, defeating Hillary Clinton in 2016 despite only having half as much money, and narrowly losing to Biden in 2020 despite a 3 to 1 cash disadvantage heading into the final month of the election.

“Team Trump has the money, the message, the momentum and a candidate who works harder than anyone in politics,” Trump campaign national press secretary Karoline Leavitt told the DCNF.

AUTHOR

Robert Schmad

Contributor.

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EDITORS NOTE: This Daily Caller column is republished with permission. All rights reserved.


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‘Greatest Fundraising Bonanza Ever’: Andrew Cuomo Points To Effect Trump’s New York Trial Has On 2024 Race

Former Democratic New York Gov. Andrew Cuomo told comedian Bill Maher late Friday that presumptive 2024 Republican presidential nominee Donald Trump’s Manhattan trial “should have never been brought” and described the effect it has had on the race.

Trump’s campaign finished May with $116.6 million raised — $25 million more than President Joe Biden’s reelection campaign, Politico reported. Cuomo said it was “scary” that more than half of New Yorkers believe “the justice system is politicized,” prompting the “Real Time” host to note Trump’s subsequent surge in financial support.

“You know what’s scary about this from my point of view?” Cuomo began. “The trials in New York. There’s Florida, Georgia and two in New York. The two trials in New York: New Yorkers said, 66% said the justice system is politicized. And there’s nobody in New York who likes Trump. And, still, 66% said the justice system is politicized. That’s why I think he’s not paying the same price for these verdicts because they believe it is political. And you wanna talk about a threat to democracy? When you have this country believing you’re playing politics with the justice system, and you’re trying to put people in jail or convict them for political reasons, then we have a real problem.”

“I saw two stories in the paper today about the election. One is that Biden has slightly pulled ahead — although not in the states where it’s gonna matter — but nationally, which was news to me. And then the second one was fundraising,” Maher said. “The trial in New York, the one he got convicted for, was the greatest fundraising bonanza ever. He was lagging behind Biden and now he’s pulled quite a bit ahead. That trial was the greatest reason people had to send their checks for five, 10, 25, whatever dollars to Donald Trump.”

Maher then said that “it’s a Hobson’s choice always” when it comes to Trump because “he’s always guilty.” Hobson’s choice refers to “the option of taking either what is available or nothing at all; no choice,” according to the Oxford English Dictionary.

The comedian then warned about prosecuting Trump because the “repercussions might be worse.”

Trump took aim at Maher on social media Saturday morning, calling the “Real Time” host “highly overrated.” He also urged Republicans to “stop using” the liberal comedian as “a reference point.”

“Bill Maher, the highly overrated ‘Star’ of the ratings challenged show with the Fake, Loud and Obnoxious laughter pouring out of your set every few seconds, even when nothing was said that was funny (which is most of the time!), suffers from a terminal case of Trump Derangement Syndrome, sometimes referred to as TDS. Republicans should stop using him as a reference point, his show is dead!” Trump wrote on Truth Social.

AUTHOR

JULIANNA FRIEMAN

Contributor.

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EDITORS NOTE: This Daily Caller column is republished with permission. ©All rights reserved.

Biden’s One Big Election Advantage Is Quickly Being Erased

Through the bad polls, disruptive protests and fitness questions, President Joe Biden has continued to have one big advantage over the Trump campaign — but it appears to be fading fast.

While Biden has battled concerns about his age and backlash from the Israel-Hamas war, the president and the Democratic National Committee continued to outraise their Republican counterparts by millions of dollars. As Donald Trump dominated Biden both nationally and across key swing state polls, the Republican National Committee (RNC) and the Trump campaign struggled with finances.

But over the last two months, the RNC and Trump campaign have started to make a dent in the cash advantage Biden once had. As Trump world continues to announce record-breaking fundraising statistics, one of Biden’s few apparent edges in a tight election could fall by the wayside, strategists told the Daily Caller.

“Democrats will keep up. It’s not going to be a blowout, money wise, but they expected Trump to lose the ability to raise money by charging him with these over the top prosecutions,” Mark R. Weaver, a GOP strategist, told the Caller.

“They didn’t realize that the liquid they were throwing on the fire was not water, but gasoline,” he added.

Trump’s fundraising blitz started as the GOP primary wrapped up. The RNC and the campaign raised $76 million in the month of April, about $25 more than Biden and the DNC. It was the first time the Trump camp surpassed their competitors in monthly fundraising.

The month prior, the Biden campaign and the DNC brought in $90 million, while Trump and the RNC brought in $65.6 million. In total, Trump’s camp had $93.1 million cash on hand while Biden’s team had $192 million at the end of March.

May is already shaping up to be an even bigger month for the Trump campaign than before. After a Manhattan jury convicted Trump on 34 counts of falsifying business records, the former president’s campaign donation site crashed from an influx of visitors. The campaign later announced that 24 hours after the verdict, it had raised $54.8 million. For the total month, the campaign recently announced it had raised about $141 million. FEC filings revealing fundraising totals for both campaigns in the month of May are not yet available.

The fundraising surge lines up with the unification of the Trump campaign with the RNC. In the spring, Trump’s daughter-in-law Lara and allied operative Michael Whatley became co-chairs of the party organization. Key Trump campaign officials also took positions with the RNC.

“This was a much needed shot in the arm, and although I anticipate Biden and the entire Democratic apparatus having more money, just like they’ve had going back to 2016, Trump needs enough to make sure that they can run the kind of ground game and turnout effort that he needs to win,” Scott Jennings,  a longtime GOP adviser in Kentucky and veteran of numerous campaigns, told the Caller.

Jennings added that a lot of Trump’s support comes from mid- and low-propensity voters and unregistered Americans who are less reliable to turn out on election day.

“When I think about what Trump would do with a massive cash infusion, my mind immediately goes to, oh, he’s going to put this into a ground game to ensure that these mid- to low-propensity voters actually come out. And if he’s able to do that and jack up the turnout among that audience, he’s going to win,” he added.

Trump’s court cases, Weaver told the Caller, have had the opposite impact Democrats and his opponents hoped they would.

“It looked as though [Trump] might get beat in the primaries by Ron DeSantis or someone else, but then the Biden White House and its allies started bringing bogus and over the top charges against Donald Trump, and it angered a lot of people in the middle who see America as a place where the rule of law and due process matter,” Weaver said.

“Biden and his minions thought that they were politically drowning Donald Trump. But what they’re really doing is lifting the tide of his support in such a way that the Biden campaign will start to fall behind in the fundraising game,” Weaver continued, adding that the new influx of funds could cause issues for Biden.

MAGA Inc., the super PAC backing Trump, announced that it raised $70 million during the month of May, the New York Times reported. The National Republican Congressional Committee (NRCC) said it had a record breaking day following Trump’s verdict, bringing in $300,000. The National Republican Senatorial Committee (NRSC) announced that it raised $360,000 after the former president’s guilty conviction.

While Trump’s new loads of cash are noticeable, Democratic strategist Brad Bannon told the Caller that he does not think it would impact the race, because the former president already gets a ton of advertising at virtually no cost.

“I’m inclined to say no for a couple of reasons. One is when there was a big fundraising gap, I didn’t think it mattered much, because Donald Trump makes his own media and he never has to pay for it. If Donald Trump didn’t spend a cent on his presidential campaign for the next five months, I doubt it would make much difference. The reality is, you know, better or worse, he manufactures his own media,” Bannon told the Caller.

Bannon added that he didn’t think most voters, though maybe a small number in swing states, would pay much attention to the ads that the campaigns are poised to spend their cash on. Jennings believes that the cash won’t all go to ads, but instead toward elevating the campaign’s ground game.

“I don’t think they’re worried about it,” Leslie Marshall, Democratic strategist, told the Caller about the Biden campaign. “I think they expected it. If you notice, Biden doesn’t seem to be phased by polls. Biden doesn’t seem to be phased and that worked well for him in 2020.”

Biden’s positioning in the polls now, however, is worse than at the same time in 2020.

While the Biden campaign has not revealed what it raised in May, other affiliated groups are still working to give the president a fundraising edge. Climate Power and Future Forward USA Action, two nonprofit organizations, are planning to spend $50 million on ads that tout Biden’s actions throughout his administration, the Washington Post reported.

Following the Trump verdict, a NPR/PBS NewsHour/Marist poll showed that a majority of registered voters, 67%, think that Trump’s guilty conviction will have no effect on how they’ll vote in the 2024 election. Seventeen percent of Americans said it would make them less likely to vote for Trump.

With five months until the election and variables to change, Jennings told the Caller the latest fundraising news should be encouraging for Republican voters.

“It really ought to give Republicans some optimism about what they’re going to be able to accomplish beyond just your normal TV ads, but with the sort of campaign, mechanics, and infrastructure that’ll be used to turnout all these voters,” Jennings told the Caller.

AUTHOR

REAGAN REESE

White House correspondent. Follow Reagan on Twitter.

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EDITORS NOTE: This Daily Caller column is republished with permission. ©All rights reserved.