President Joe Biden's reelection campaign and the Democratic National Committee announced on Saturday that they had raised over $90 million in March, closing the first quarter of the year with more than $192 million in cash on hand.
This substantial fundraising achievement extends their financial lead over Donald Trump and the Republicans.
During the January to March period, the Biden campaign and its affiliates amassed $187 million, with 96% of donations totaling less than $200.
A significant contributor to this total was the $26 million raised during a March 28 event at Radio City Music Hall in Manhattan, featuring former Presidents Barack Obama and Bill Clinton.
In contrast, Trump is expected to raise $43 million for his campaign from a gathering of major donors at the Florida home of billionaire investor John Paulson.
If realized, this would establish a new record for single-event fundraising.
The Biden campaign attributes its success to the steady flow of donations, enabling them to launch extensive digital and television advertising campaigns in crucial states.
They are also collaborating with the DNC and state parties to effectively mobilize potential supporters before the November election.
With the $192 million-plus cash reserve as of March 31, Biden's campaign boasts the highest fundraising total ever for a Democratic candidate.
Since Biden announced his reelection bid in April 2023, approximately 1.6 million individuals have contributed to the campaign. Moreover, following the president's State of the Union address in early March, the campaign received over $10 million in donations within 24 hours.
Julie Chavez Rodriguez, Biden's campaign manager, emphasized the historic nature of their fundraising efforts, noting that the funds are crucial for building a winning operation focused on key voters across the country.
She contrasted this with what she described as Trump's financially strained operation, which she claimed is directing its limited resources toward settling various legal fees.
Trump, who is currently facing four separate criminal indictments, along with the Republican National Committee, reported raising $65.5 million in March, with $93.1 million on hand.
In the 2020 election, Trump had a significant campaign treasury as the incumbent, which did not translate into victory against Biden.
Despite expectations of lower fundraising compared to the Democrats, Trump's campaign officials express confidence in having the necessary resources.
The Biden campaign interprets its robust fundraising as a sign of enthusiasm for the president, contradicting his low approval ratings and unfavorable poll numbers.