Independent presidential candidate Robert F. Kennedy Jr. is facing financial challenges, as reported in new federal filings. On July 20, two committees linked to the Kennedy campaign submitted monthly disclosure statements to the Federal Election Commission for their June activities. The documents revealed that the campaign and its affiliated super PAC had around $21.6 million at the beginning of July, but also carried a debt of approximately $3.9 million.
Team Kennedy, the main campaign committee, raised $5.4 million but spent $6.3 million in June, leaving them with $5.6 million in cash by the end of the month. The committee disclosed debts and obligations totaling $3.1 million to the FEC.
American Values, a hybrid PAC supporting Mr. Kennedy, collected $228,000 in June and spent $3.5 million. Despite this, they had $16 million in cash on hand at the start of July, offset by $800,000 in debts.
One of the notable debts disclosed by Team Kennedy was $3.1 million owed to the private security firm Gavin de Becker and Associates LP.
Gavin de Becker runs the private security firm and is a significant supporter of American Values 2024, the PAC backing Mr. Kennedy. Records show that de Becker has contributed nearly $14 million to American Values since April 2023.
According to FEC records, American Values issued a $2 million refund to de Becker on June 28, marking their largest transaction of the month.
Following an announcement by Secretary of Homeland Security Alejandro Mayorkas on July 15, Mr. Kennedy is set to receive U.S. Secret Service protection as a major presidential candidate. This move is expected to reduce the campaign’s spending on security.
The issue of campaign security gained prominence on July 13 after an attempted assassination of former President Donald Trump at a rally in Pennsylvania. Campaign security measures have become a top priority for candidates in light of such incidents.
American Values had significant debts to X Corp, amounting to about $763,000. The PAC also owed debts to other platforms like Meta Platforms Inc.’s Facebook and Google, where they spent on internet advertising.
Mr. Kennedy, who is on the ballot in 26 states, has been actively campaigning despite financial challenges. He hosted a livestream event with John Stossel after not receiving an invitation to a presidential debate between Biden and Trump.
