Trump’s Conviction Boosts Fundraising, Narrows Biden’s Lead Ahead of Debate
Image: Reuters/Carlos Barria
Donald Trump’s trial and conviction on numerous felony counts in his hush-money case have not hindered the former president’s fundraising efforts. Instead, it has proven advantageous for both him and the Republican Party, significantly reducing President Joe Biden’s fundraising lead as the two prepare for a crucial first debate next week.
According to a report from The Washington Post on Thursday night, Trump’s presidential campaign, the Republican National Committee, and an allied super PAC raised over $170 million in May. This impressive sum includes a substantial boost following Trump’s felony conviction on May 30. The Trump campaign reported an astounding $53 million raised online within 24 hours of the guilty verdict.
MAGA Inc., the primary super PAC supporting Trump, was particularly successful, reporting $69 million raised last month and a cash reserve of $94 million. This figure notably includes a $50 million donation from reclusive heir Timothy Mellon, marking one of the largest single donations ever disclosed. Additionally, MAGA Inc. received a $10 million contribution from Richard and Elizabeth Uihlein and $5 million from Kelcy Warren.
In parallel, Trump and the national committee collectively raised about $106 million last month, a significant increase compared to previous months. They ended with a combined $171 million in cash on hand.
This Republican fundraising surge has considerably narrowed the Biden campaign’s previous financial advantage. The GOP is now planning significant media expenditures throughout the summer to capitalize on this momentum.
Although the Biden campaign has not yet filed its report, it announced raising $85 million last month. The president’s team also stated it had $212 million in cash heading into June.
The dramatic influx of funds following Trump’s conviction demonstrates the former president’s enduring influence and the strong financial backing from his supporters. As both campaigns gear up for the upcoming debate, the financial dynamics will play a crucial role in shaping their strategies and outreach efforts.
The implications of this financial shift are profound, indicating a highly competitive race ahead. With substantial war chests on both sides, the upcoming months are expected to see intense campaigning and significant media presence as Trump and Biden vie for voter support.
