Vice President Kamala Harris has made history by raising $310 million in July, according to her campaign.
This record-breaking haul, which includes funds raised for her campaign, the Democratic National Committee, and state parties, positions her with a significant cash advantage over Republican opponent Donald Trump.
Harris’ unprecedented fundraising effort more than doubles the $138.7 million Trump raised during the same period, underscoring a groundswell of support among Democratic voters and donors.
As of August, Harris has $377 million in cash on hand, the largest war chest at this point in an election cycle, surpassing Trump’s $327 million.
The campaign attributes this financial success to an extraordinary surge in grassroots support, calling July “the best grassroots fundraising month in presidential history.”
Harris’ entry into the race on July 21, following President Joe Biden’s decision to end his reelection bid, has energized the Democratic base.
Biden’s late-campaign struggles, highlighted by a disappointing debate performance, had previously stalled donations.
The campaign’s July haul includes $200 million raised in the week following Biden’s endorsement of Harris, demonstrating the immediate impact of her candidacy.
Grassroots donors, contributing less than $200, made up 94% of the 4.2 million donations, with two million individuals making their first-ever political contribution.
Notably, 60% of these donors were women, and coalition groups such as Black Women for Harris and Latinas for Harris collectively raised $20 million.
“The tremendous outpouring of support we’ve seen in just a short time makes clear the Harris coalition is mobilized,” said Harris campaign manager Julie Chavez Rodriguez.
Harris’ fundraising prowess has drawn the backing of prominent big-dollar Democratic donors. Hedge fund manager George Soros, along with notable figures from Wall Street and Hollywood, have voiced their support. Additionally, billionaires Mark Cuban, Reid Hoffman, and Vinod Khosla were among the 200 venture capitalists who endorsed her campaign.
The Harris campaign’s financial edge allows for robust spending on media and voter mobilization efforts. With more than 260 offices in key battleground states and a staff of over 1,400, the campaign is strategically positioned for the November election.
A $50 million investment in paid media ahead of the Democratic National Convention, set to begin in Chicago on August 19, further underscores their commitment to maintaining momentum.
The campaign’s organizational efforts are bolstered by the addition of over 170,000 new volunteers, who participated in 2,300 events across battleground states last weekend.
This mobilization effort is critical for maintaining voter enthusiasm and turnout.
Harris’ historic fundraising achievement not only signifies strong support within her party but also poses a serious challenge to Trump’s campaign. Despite a resurgence in Trump’s fundraising in the second quarter, Harris’ July performance has shifted the financial landscape of the 2024 presidential race.
