Harris’ Fundraising Triples Trump’s in August, Boosting Democrat’s Fund

Vice President Kamala Harris achieved a significant fundraising milestone, raising over three times the amount of funds gathered by former President Donald Trump in August. This impressive figure positions Harris’s campaign favorably as the presidential race converges toward its final weeks, based on recent disclosures to the Federal Election Commission.

The Harris campaign, in collaboration with the Democratic National Committee (DNC), commenced the last two full months of the 2024 election cycle with a substantial $286 million on hand. This amount contrasts sharply with the $214 million reported by Trump’s campaign and the Republican National Committee (RNC), according to the filed documents.

During August, the Harris-led efforts and the DNC reported a remarkable $257 million in fundraising, while the Trump campaign and RNC brought in $85 million for the same period. This disparity indicates a considerable financial leverage for Harris as the race intensifies.

Both campaigns released their August fundraising figures this month, which included totals from joint fundraising initiatives with state party committees. The data underlines the significant financial advantage Harris has maintained for the Democratic ticket.

In terms of expenditures, the Harris campaign and the DNC spent roughly $258 million in August, which aligns closely with the amount they raised. Meanwhile, Trump’s campaign and the RNC spent $121 million despite generating $85 million in revenue during the same month.

Notably, billionaire entrepreneur Elon Musk made headlines recently for his political contributions, with a total of $289,100 given to the National Republican Congressional Committee (NRCC) in August. This marks Musk’s largest federal political contribution thus far. However, he did not allocate any funds to the RNC or the National Republican Senatorial Committee (NRSC), which focuses specifically on Senate races.

Musk has previously made contributions of $50,000 to former House Speaker Kevin McCarthy’s joint fundraising committee and $36,000 to Barack Obama’s 2012 campaign. This underscores his evolving stance in political donations.

In the Republican camp, some prominent donors who initially supported former Governor Nikki Haley during the primary season are beginning to pivot in support of Trump. Hedge fund manager Paul E. Singer contributed $5 million to Make America Great Again Inc., reflecting a change in allegiance after backing Haley in the past. Similarly, investment banker Warren Stephens matched his previous $1 million donation to a pro-Haley super PAC with an equal amount in favor of the pro-Trump super PAC.

Trump’s Save America PAC recently disclosed that it incurred nearly $2 million in legal expenses throughout August. A notable portion, surpassing $1 million, was allocated to one of Trump’s attorneys, Todd Blanche. The legal expenditure also included payments to various law firms, highlighting the ongoing legal challenges facing the former president.

In light of security measures, Trump’s campaign reported several small expenditures for security services linked to Apocalypse Arms and Military Surplus following a reported assassination attempt against him. These particular expenses, totaling $555, emphasize the heightened security concerns for the former president.

As the election season progresses, the disparity in fundraising and spending patterns among the candidates is shaping the political landscape significantly, with these financial insights offering a glimpse into the strategies and viability of the campaigns moving forward.