American President Joe Biden raised, on Thursday March 28, the tidy sum of $25 million in a single evening with the help of two former Democratic American presidents, Barack Obama and Bill Clinton. Enough to fill the bank account of his presidential campaign. Because when it comes to financing, for the moment, the current tenant of the White House far exceeds the Republican candidate and former president Donald Trump.
According to the latest data from the Federal Election Commission, Joe Biden had already collected nearly 127 million dollars at the end of February, compared to 99 million for Donald Trump’s team. Taking into account the expenses already made, the campaign team for the re-election of Joe Biden therefore had 71 million dollars (approximately 65 million euros), or twice as much as the 33.5 million dollars (30. 9 million euros) available for Donald Trump’s campaign, according to the amounts declared to the Commission.
American billionaire Donald Trump is also embroiled in several legal cases and, with his sons, was fined in February – admittedly reduced from $454 million to $175 million – for financial fraud within their Trump Organization real estate empire. .
Large and small donors
Fundraising for the American presidential election allows candidates to develop advertising campaigns, send members of the support committee to convince potential voters or finance telephone calls to them. According to’American news agency APJoe Biden’s campaign, for example, is currently “in the midst of a $30 million television and digital advertising campaign targeting specific communities such as Black, Hispanic and Asian voters.”
In 2020, remember Reuters news agency, Joe Biden had raised more than $1.6 billion from his campaign committee and outside groups, the highest amount ever raised by a candidate in a presidential race. Donald Trump raised $1.1 billion – and lost the election. But having more money does not necessarily mean victory. In 2016, Hillary Clinton, although well ahead in the campaign financing duel ($769 million), was in fact beaten by Trump ($433 million).
According to David Primo, a professor of political science and business administration at the University of Rochester contacted by Reuters, small donors are almost more important than large ones as a sign of support among the population. According to data from‘OpenSecrets, a research group that tracks money and its influence in American politics, large contributions account for about 55% of the $127 million Joe Biden’s campaign committee has raised; 64% of the $99 million collected by Donald Trump’s team.
According to Financial Times, Donald Trump wants to surpass Joe Biden’s record fundraising during an event in Florida on April 6. Organizers hope to raise nearly $33 million.