President Donald Trump raised $24.8 million in less than 24 hours as he officially launched his reelection, GOP officials said Wednesday, underscoring the huge fundraising lead the President has over a divided and crowded Democratic primary field.
The Wednesday announcement by Republican National Committee Chairwoman Ronna McDaniel, confirmed by campaign officials, indicates that Trump is on track to report his best fundraising quarter since he became president.
The one-day haul as Trump held a kickoff rally in Orlando, Florida, included $14 million for Trump’s reelection committee and $10 million that went to Trump Victory, a joint fundraising committee between his campaign and the RNC that can accept large donations.
Separately, the President appeared at a high-dollar fundraising luncheon at the Trump National Doral hotel in Florida on Wednesday, which officials said raised an additional $6 million.
That would give him more than $30 million in a two-day period — nearly as much as the $39 million he raised in the first three months of this year. The flood of cash is helping his campaign quickly expand its staff and finance an early barrage of online ads.
The president’s fundraising bonanza this week far eclipsed the $6.3 million that former Vice President Joe Biden’s campaign said it pulled in on the day of his late April campaign announcement — the largest 24-hour amount raised by any of the Democratic campaigns this year.
In 2016, Sen. Bernie Sanders brought in $6.5 million in the 24 hours after the New Hampshire polls closed, at the time a single-day record for his bid that helped make him financially competitive with Hillary Clinton. For his 2020 bid, Sanders raised $5.9 million on the day of his launch.
“This is going to put fuel in the President’s engine to go through November 2020,” said Roy Bailey, a GOP donor and national finance co-chairman for Trump’s reelection. “Whatever the Democrats are raising, they’re going to eat up and burn all that fuel in the primary fight.”