Former President Donald Trump’s political financial standing, leading into the 2024 GOP candidacy, is reportedly more robust than initial reports indicated. Sources from Washington Post, who’ve spoken with Trump’s senior advisors and reviewed federal filings, confirm this perspective.
Support from grassroots donors has provided Trump with significant fundraising benefits. An insider from the Trump campaign stated, “Grassroots donors have furnished Trump with a notable fundraising edge. Our team has diligently preserved these invaluable resources, ensuring that Trump maintains a superior stance in both the primary and general elections.”
Key entities supporting Trump’s 2024 aspirations include his primary campaign and the super PAC, MAGA Inc. Trump also controls a leadership PAC named Save America. Funds raised are divided via an agreement: 90% goes to the campaign and 10% to the leadership PAC. Primarily, the leadership PAC takes care of legal fees for Trump and his team, whereas the campaign finances cover operational expenses.
Recently, Trump allies founded the Patriot Legal Defense Fund Inc., separate from the campaign, to cover the legal bills of others (excluding Trump and his family). On the other hand, Save America will continue to pay for the legal bills of Trump and his close family.
Moreover, the super PAC, MAGA Inc., supports Trump. Though not formally associated with the campaign due to legal regulations, its initial funds came in part from the Save America leadership PAC, tying it into the broader financial framework.
Post the Federal Election Commission (FEC) filing deadline in July, early reports hinted at financial challenges for both the Save America group and MAGA Inc. There were parallels drawn between Trump’s campaign finances and those of Florida Governor Ron DeSantis, who faces financial difficulties.
However, the real financial outlook for Trump is more promising than initially reported. As of recent data, Trump’s campaign reportedly has $26 million readily available for the GOP primary. For the 2024 cycle, individual donors can contribute up to $3,300 for each of the primary and general elections. Currently, Trump’s campaign has raised $39 million, with around $700,000 set aside for the general election.
Furthermore, the Trump campaign boasts an extensive list of over 21 million supporters, with 4 million being donors. In the current presidential cycle, roughly 315,000 individuals have donated. This suggests that Trump has a vast pool of past donors who might contribute again.
Over the past week, the campaign received average donations of about $33 from about 137,000 contributors. Notably, 22,000 of these were first-time donors for this cycle. Most donors are yet to reach their contribution limit, presenting significant potential for more funding.
In summary, Trump’s campaign for the 2024 elections seems to be on solid ground financially, with a considerable cash reserve, a sustainable spending rate, and a vast potential donor base.
