Source: Caixin.
Author: Liu Rui.
In the second quarter of this year, Biden's fundraising amount was unexpectedly surpassed by Trump, which means Biden's chances of winning the election this year have decreased by another ten percent.
After his "disastrous" performance in last week's debate, Biden's campaign is under close scrutiny from Democratic colleagues. More and more Democrats are beginning to hesitate, wondering if continuing to make Biden the presidential candidate will result in an inability to defeat Trump in November's election.
Last Thursday East Coast time, US President Biden's poor performance in the first presidential debate of this year's election caused a sharp drop in his poll ratings, and there were calls within the party to "replace the candidate".
Misfortunes never come singly. This week, another piece of bad news arrived: Trump's fundraising amount in the second quarter of this year surprisingly exceeded Biden's, which means Biden's chances of winning the election this year have decreased by another ten percent.
Trump Surpasses Biden's Q2 Fundraising Amount.
According to data, former US president Biden's competitor in the presidential race, Trump, raised $331 million in campaign funds in the second quarter, while Biden and the Democratic National Committee raised $264 million in campaign funds during the same period.
Trump's campaign team said that after the large-scale fundraising in the second quarter, they now have nearly $285 million in cash, while Biden's team reported cash on hand of $240 million. This was a stunning reversal for Trump.
"This quarter's victory gives us an advantage in cash on hand," said Chris LaCivita and Susie Wiles, senior officials in Trump's campaign team, in a joint statement.
They also attacked, "Biden's burn rate is going up, but is not producing tangible results for them."
Specifically, Trump's team raised more than Biden's in fundraising amounts in both April and May, but fell behind in June. Biden raised $127 million in donations in June, while Trump raised $112 million.
Biden emphasizes that he still leads in June fundraising.
Trump's current cash advantage is an absolute blow to Biden, because after his disastrous debate performance last week, his campaign is under close scrutiny from Democratic colleagues. More and more Democrats are beginning to hesitate, wondering if continuing to make Biden the presidential candidate will result in an inability to defeat Trump in November's election.
Biden's campaign team disclosed their fundraising totals for June and the quarter on Monday Eastern Time, highlighting that Biden raised more than Trump in June. Biden's campaign team said Biden had his best single month of fundraising performance so far in June.
Biden's campaign team also emphasized that they raised $38 million in the four days following the debate on Thursday, June 27. Trump's campaign team said they raised $8 million on the day of the debate, but did not disclose total fundraising data for the following days.
As for Trump, last week's debate performance is expected to increase his appeal to wealthy donors. Meanwhile, since Trump was convicted on May 30 on charges of hush money, his campaign team has been using Trump supporters' anger at the verdict to raise more donations.
Trump's campaign team said that within 24 hours of the verdict, Trump raised $52.8 million online.
In the early stages of this round of campaigning, Trump's financial situation was actually far behind Biden's. On the one hand, due to a number of serious criminal charges, a large amount of his funds need to be used for lawsuits; on the other hand, the Republican primary competition is much larger than the Democrats, and Trump previously needed to use a lot of funds for the primary competition within the party, while many Republican donors choose to invest in other competitors within the party.
For each component reasons, US President Donald Trump was actually far behind his political aparant Joe Biden in campaign funding in the initial stages of the 2020 campaign.
For the aforementioned reasons, Trump was behind Biden's Democratic challenger in his bid to rake in funds for a presidential run at the start of the campaign, sources said.
But after Trump emerged victorious from the primaries, several big donors have generously opened their checkbooks to Trump.
In May of this year, cryptocurrency billionaires Tyler Winklevoss and Cameron Winklevoss each donated $844,600 worth of bitcoin to the Trump committee.
In addition, Miriam Adelson, a billionaire from Las Vegas Sands, and Steve Schwarzman, CEO of Blackstone, also made donations to Trump in May.
Editor/Jeffy