In August, Vice President Kamala Harris’s presidential campaign received nearly $200 million in contributions, creating significant separation from former President Donald Trump in the fundraising portion of the 2024 presidential race, according to new federal filings.
On Sept. 20, financial statements were filed with the Federal Election Commission by committees associated with major presidential campaigns, reflecting their fundraising efforts. The documents revealed that the Harris campaign outraised the Trump campaign by about $145.1 million in August.
Based on the incomplete financial picture presented by the monthly filings, Harris began September with access to approximately $319.7 million in cash. In comparison, Trump had access to around $198.8 million at that time.
Both major candidates have the potential to access more funds, but their allied committees, which file quarterly, are not required to disclose their activities until Oct. 15.
Harris Campaign Fundraising
August marked the first full month with Harris at the top of the Democratic Party’s ticket. Following President Joe Biden’s withdrawal from the presidential race on July 21, Harris received his endorsement to run in his place.
Harris quickly gained the Democratic Party’s approval and was formally named the nominee at the party’s convention in Chicago in August. The new candidate also took over all the committees previously associated with Biden, a move that has faced challenges from Republicans.
July’s returns showed a significant fundraising boost for Harris, with the principal campaign committee, formerly known as Biden for President and now called Harris for President, raising over $204.4 million in that month.
In August, Harris for President almost reached the $200 million mark, reporting approximately $189.6 million in contributions while utilizing about $173.8 million. The committee closed August with around $235.5 million in the bank.
The joint fundraising committees Harris Victory Fund and Harris Action Fund’s fundraising amounts for August are still unknown and will be disclosed in mid-October.
Harris’s main financial ally, the hybrid political action committee Future Forward, received around $36.9 million in contributions in August and spent approximately $77 million. The PAC ended August with about $84.2 million in cash on hand.
Future Forward’s filings revealed numerous six-figure donations in August, with the largest individual contribution coming from Dustin Moskovitz, who donated $3 million on Aug. 28. Moskovitz, a prominent supporter of Democratic politicians, was ranked as one of the top 10 individual spenders in previous presidential election years.
Trump Campaign Fundraising
Trump’s fundraising total in August was notably smaller than his July amount. The Trump ally Make America Great Again Inc., a super PAC, received a $50 million donation in July, following an assassination attempt against the former president in Butler, Pennsylvania.
In August, the principal campaign committee of Donald J. Trump for President 2024 Inc., MAGA Inc., and the qualified leadership PAC Save America collectively raised $69.5 million. The three groups spent about $153.7 million during the month and closed August with approximately $198.8 million in cash on hand.
Trump for President led the fundraising efforts in August, raising $44.5 million and holding the most cash among the Trump groups that disclosed their finances on Sept. 20. The committee began September with $134.6 million in cash on hand.
MAGA Inc. received contributions from Republican megadonors who previously supported another GOP candidate during the presidential primaries. The super PAC reported receiving $5 million from Paul Singer, the president of Elliot Investment Management, and $2 million from Warren Stephens, the president of Stephens Inc., both of whom had donated to funds backing former U.S. Ambassador to the United Nations Nikki Haley during her run against Trump.
Another GOP megadonor, Diane Hendricks, chairwoman of Hendricks Holding Co. Inc., contributed $10 million to MAGA Inc. Hendricks, a significant Trump supporter in 2020, was listed among the major donors according to OpenSecrets donor records.
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