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Third-quarter fundraising winners (Biden) and losers (DeSantis) [1]

['Daily Kos Staff']

Date: 2023-10-16  

Former President Donald Trump eclipsed his chief 2024 Republican rivals in third-quarter fundraising hauls, raising $45.5 million compared to Florida Gov. Ron DeSantis' meager $15 million draw and former U.N. Ambassador Nikki Haley's $11 million. The totals represent the combined intake of the candidates' campaigns and allied committees/super PACs.

But DeSantis was the biggest loser of the bunch. Not only did his fundraising totals drop off from the $20 million he brought in during the second quarter, just $5 million of his $15 million Q3 draw can be utilized in the Republican primary. The rest is slated for the general election, according to ABC News.

Meanwhile, Haley had her best fundraising quarter yet, beating her second-quarter haul of $7.2 million by almost $4 million. According to The Washington Post, Haley also spent less than both DeSantis and Sen. Tim Scott of South Carolina and turned in one of the lowest burn rates of any Republican hopeful. Simply put, Haley continues to gain momentum as DeSantis loses steam.

But the biggest Q3 winner by a mile was President Joe Biden and Democrats, raising a combined $71 million and finishing the quarter with $91 million cash on hand—more than double Trump's $38 million.

Here's a nice bar graph summation of it, showing Team Biden significantly outpacing Trump in both third-quarter fundraising and cash on hand.

x President Biden’s campaign takes in massive amount of money, far outstripping Trump’s fundraising. Biden’s cash-on-hand for campaigning more than double what Trump has. pic.twitter.com/k1EEvUbLdK — Mike Sington (@MikeSington) October 15, 2023

But what fueled Team Biden's fundraising is even more impressive: nearly 500,000 donors, with 97% of the donations coming from small-dollar donors contributing less than $200. Team Biden said its average donation was just $40.

So Democrats' fundraising at this early juncture is both strong and diverse, and they will be able to go back to a wealth of small-dollar donors throughout the cycle. That dynamic proved to be a major strength for Democratic candidates last cycle and looks to be materializing again in the 2024 presidential contest.

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