U.S. President Joe Biden delivers the State of the Union address in the House Chamber of the U.S. Capitol in Washington, D.C., on March 7, 2024.
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President Joe Biden’s re-election machine brought in $10 million in the 24 hours following his State of the Union address on Thursday — a financial jolt as the campaign looks to build general election momentum off the speech.
The sum, which was shared first with NBC News, is a record for Biden’s re-election effort, the campaign said. And it’s notable even in the context of big political fundraising numbers. Biden’s campaign and affiliated committees powering the Democratic National Committee and other party groups raised $42 million in the entire month of January, for example.
The money flowed in via approximately 116,000 donations from 113,000 contributors, a senior Biden campaign adviser said. And the total builds on Biden’s early financial advantage over former President Donald Trump.
Biden’s campaign proper had $56 million in the bank at the end of January, the most recent period covered by public campaign finance filings, while the DNC had $24 million. Trump and the Republican National Committee, meanwhile, had $30 million and $9 million on hand, respectively. Both operations also had additional money stashed away in other fundraising accounts.
The Biden camp is leaning into its early cash edge, on Saturday launching the first ad of a $30 million, six-week effort to blanket swing states with the campaign’s message. The first ad features Biden speaking straight to the camera, acknowledging his age but saying he “understand[s] how to get things done.” Biden then lists a slew of accomplishments since he was sworn in and makes a series of contrasts with Trump in the ad.
Biden’s campaign said its $10 million post-State of the Union total came amid other highs in the past week. The president’s operation raised $1.5 million online Wednesday as Trump became the presumptive GOP nominee.
The campaign said its grassroots fundraising has ticked up to record levels for the re-election bid in each of the past four months, culminating in new hourly online fundraising records three hours in a row during the State of the Union.
“Ten million dollars in 24 hours. To quote the boss, that’s a BFD,” Biden campaign manager Julie Chavez Rodriguez said in a statement, referencing Biden’s off-color hot-mic moment celebrating the passage of Obamacare when he was vice president.
“We thank our grassroots supporters who are motivated more than ever to reelect President Biden and Vice President Harris. The President’s State of the Union address reminded so many of our supporters who is fighting for them, and the stakes of this election for our freedoms, our rights, and our democracy,” Chavez Rodriguez continued, adding: “We send our condolences to the other guy and his flailing, poor campaign. Turns out attacking women’s rights, cutting taxes for the rich, and attacking American democracy isn’t exactly a winning message.”
