Trump dwarfs Biden in latest fundraising numbers in show of political force after felony convictions

NEW YORK: Donald Trump's campaign outraised President Joe Biden by more than USD 60 million last month, according to federal filings made public Thursday that detailed the Republican fundraising explosion sparked by Trump's felony convictions.

Biden's campaign and the Democratic National Committee together raised a robust USD 85 million in May and reported USD 212 million in the bank at the end of the month. The strong showing does not include roughly USD 40 million raised by Biden and his top surrogates in recent days — or a separate USD 20 million donation from former New York City Mayor Michael Bloomberg to pro-Biden groups.

Still, Trump's fundraising for, for one month at least, seemed to dwarf Biden's.

The Trump campaign and the Republican National Committee said it raised a jaw-dropping USD 141 million in May, including tens of millions donated immediately after Trump was convicted of 34 felonies in the New York hush money case. At the same time, billionaire Timothy Mellon, donated a stunning USD 50 million to a pro-Trump super PAC the day after Trump's guilty verdict, according to filings made public Thursday.

Trump's campaign declined to report how much money it had in the bank at the end of May, prompting Biden's campaign to question whether the groups were still spending heavily to cover Trump's legal fees.

"Our strong and consistent fundraising program grew by millions of people in May, a clear sign of strong and growing enthusiasm for the president and vice president every single month," said Biden campaign manager Julie Chavez Rodriguez. "The money we continue to raise matters, and it's helping the campaign build out an operation that invests in reaching and winning the voters who will decide this election –- a stark contrast to Trump's PR stunts and photo-ops that he's pretending is a campaign."

Taken together, the numbers detailed in the campaigns' latest Federal Election Commission filings suggest that Democrats may still maintain a cash advantage in the 2024 presidential contest. But almost four months before Election Day, Trump's side is closing the gap — if it isn't closed already.

The new fundraising figures also underscore the extent to which the rules of presidential politics are being re-written in the Trump era.

At almost any other time in US history, a presidential candidate would have been forced to leave an election after being convicted of dozens of felonies. But in 2024, Trump's guilty verdict has instead fuelled a massive fundraising surge that puts his team in a position to ramp up advertising and swing state infrastructure just as voters begin paying closer attention to the election.

Backed by Mellon's massive donation, the pro-Trump super PAC known as MAGA Inc. reserved USD 3.5 million in television advertising set to begin July 3 across Georgia and Pennsylvania on Thursday, according to the media tracking firm AdImpact. Overall, the group reported a USD 68.8 million haul for May, ending the month with USD 93.7 million in the bank.

Mellon has been among the biggest donors to Trump and independent candidate Robert F. Kennedy, Jr., although his support for Kennedy may be fading.

Kennedy raised USD 2.6 million last month and finished May with USD 6.4 million in the bank. The vast majority of his fundraising total came from running mate Nicole Shanahan, a wealthy Silicon Valley lawyer. The Kennedy campaign spent more than it raised for the month.

The numbers reported on Thursday did not include anything raised in June, including roughly USD 40 million raised by Biden and his top surrogates in recent days. The vast majority came from a glitzy fundraiser last Saturday with movie stars and former President Barack Obama in Los Angeles that raised more than USD 30 million. First lady Jill Biden also has been on her own personal fundraising swing that has brought in USD 1.5 million.

Meanwhile, Biden also got a big boost from Bloomberg.

The billionaire philanthropist, who briefly ran for president as a Democrat in 2020, sent USD 19 million to the pro-Biden group Future Forward in addition to sending the legal maximum of USD 9,29,600 to the Biden Victory Fund, according to a person familiar with the transfers.

Bloomberg also formally endorsed Biden on Thursday. "I stood with Joe Biden in 2020, and I am proud to do so again," Bloomberg said in a statement.

The Biden campaign said that the vast majority of its latest fundraising came from grassroots donors such as nurses, teachers and retirees. Overall, the Biden campaign and Democratic National Committee attracted more than three million new donors last month, according to a statement from the campaign.

"While Trump is leaching off his billionaire sycophants, our campaign represents the voices of America, and we're honoured to have their support as we race toward November," Democratic National Committee Chair Jaime Harrison said.