This is one of the first consequences of the decision taken by Joe Biden on Sunday, July 21. A few hours after the announcement of his withdrawal from the presidential election and the support given to the candidacy of his vice-president, Kamala Harris, the Democratic fundraising group, ActBlue, announced that it had recorded its largest collection in a single day since the start of the race for the White House.
“As of 9 p.m. local time, grassroots supporters had raised $46.7 million through ActBlue following the launch of Vice President Kamala Harris’ candidacy. This is the largest fundraising day of the 2024 cycle,” the group that facilitates online fundraising for Democratic candidates said on the social network X.
In addition to being supported by Joe Biden to replace him, as well as by other Democratic heavyweights who were nevertheless thought to have presidential ambitions (such as the governors of California, Gavin Newsom, or of Pennsylvania, Josh Shapiro), or even by Bill and Hillary Clinton, Kamala Harris seems to reassure a good number of major donors. Because some had decided, in recent weeks, to suspend their funding for Joe Biden’s campaign in order to force him to withdraw from the race. This was notably the case for several major Hollywood figures.
“The right person at the right time”
The president’s withdrawal, and the candidacy of Kamala Harris, even if she is not officially invested by the Democratic Party, has been applauded on Wall Street. Several donors, such as Reid Hoffman, co-founder of LinkedIn, or George and Alex Soros, announced their support for the vice president in the hours following Joe Biden’s announcement, notes THE Financial Times. “Kamala Harris is the right person at the right time,” wrote Reid Hoffman, who has donated more than $8.6 million to support the Biden-Harris duo.
Brad Karp, a prominent Wall Street fundraiser, echoed the same sentiment. She would be “a terrific candidate and would make a great president,” he told the business daily, describing her as a “dynamic, decisive leader and bridge-builder who I believe could help unite our country, heal our divisions and forge a better future for all Americans.”
On the other side of the country, says the New York Times“a Silicon Valley fundraiser raised more than $1 million in 30 minutes. Raj Goyle, a leading Indian Democrat, said there would be “an unprecedented level of South Asian support” for Kamala Harris among top contributors, according to the US daily.