US Presidential Election 2024: In the race for the 2024 US Presidential Election, Democratic nominee Kamala Harris is significantly outspending her Republican opponent, former President Donald Trump, by nearly $5 million a day. Recent federal filings reveal that Harris’s campaign has received a boost in donations from Wall Street and Silicon Valley elites, which has fueled her spending.
Throughout August, Harris averaged a daily expenditure of $7.5 million, while Trump spent about $2.6 million each day. This surge in funding coincided with Harris’s entry into the presidential race, driven by concerns over President Joe Biden’s health and performance.
Prominent donors such as Facebook co-founder Dustin Moskovitz, LinkedIn CEO Reid Hoffman, and Oaktree Capital chairman Bruce Karsh have contributed significantly to Harris’s campaign. Records from the Federal Election Commission (FEC) show that her campaign and the Democratic Party raised an impressive $361 million in August, giving her a total of $404 million to utilize in the crucial months leading up to the November election.
In comparison, Trump’s campaign brought in $130 million during the same period, with backing from influential figures like Blackstone CEO Stephen Schwarzman and businessman Timothy Mellon. Additionally, the Make America Great Again (MAGA) PAC contributed $25 million, leaving Trump with a total of $295 million by the end of August.
Harris’s financial edge has allowed her to take the lead in television advertising, although she has chosen to steer clear of high-profile interviews. Meanwhile, Tesla founder Elon Musk made a significant donation of $289,100 to Republican initiatives and has endorsed Trump, aiming to help secure congressional seats.
As the election approaches, Trump has hinted that he may not run again in 2028 if he loses this presidential bid. “I think… that will be it,” he said.
Kamala Harris Outspends Trump by Millions—But Can She Secure Victory?
Kamala Harris’ Shocking Statement on Home Intruders: What Led to the Comment?
Kamala Harris Seeks Support from Polish Americans in the Battle Against Trump
Will Trump's Latest Attack Turn the Tide in His Battle Against Kamala Harris?
