In the wake of President Joe Biden’s unexpected withdrawal from the 2024 presidential race, Vice President Kamala Harris has experienced a remarkable surge in campaign donations. The progressive donation platform ActBlue reported that nearly $50 million (£38.7 million) has been poured into Harris’s campaign since Biden’s exit, marking the most significant fundraising day of the 2024 election cycle.
A Record-Breaking Fundraising Surge
ActBlue, a major platform for Democratic donations, highlighted that this influx of funds represents a historic moment in the current election cycle. The platform’s announcement on X (formerly Twitter) noted that the outpouring of support from grassroots donors was unprecedented. The initial five hours following Biden’s departure saw over $27.5 million in contributions, a figure that nearly doubled by the end of the day. This surge has been described as the largest online donation event for Democrats since the $73.5 million raised in 2020 after the death of Supreme Court Justice Ruth Bader Ginsburg.
This fundraising boost positions Kamala Harris’s campaign as a formidable force in the upcoming election. The significant contributions from small donors, alongside the support from high-profile political figures, underscore the revitalized enthusiasm among Democratic supporters.
Revitalized Support from Grassroots Donors
The dramatic increase in donations comes after a period of waning support. Under Biden’s leadership, both grassroots funding and major donor contributions had diminished due to concerns about his age and performance. Biden’s poor showing in the June debate against Donald Trump further exacerbated these worries, leading to a decrease in financial backing.
However, Biden’s endorsement of Harris following his withdrawal appears to have rekindled interest among Democratic donors. Grassroots supporters, previously hesitant, have returned to the fold with renewed vigor. The Win With Black Women initiative, comprising over 44,000 participants, hosted a Zoom call on Sunday night, raising more than $1.5 million in just three hours for Harris’s campaign.
High-Profile Endorsements and Donations
The substantial financial backing for Harris includes support from prominent figures in the political and business world. Reid Hoffman, LinkedIn co-founder and a noted Democratic donor, has publicly endorsed Harris, praising her as “the right person at the right time” for the presidency. His support reflects a broader sentiment among major donors who see Harris as a strong candidate for the 2024 election.
Similarly, Alexander Soros, son of the renowned philanthropist George Soros, has expressed his belief in Harris’s qualifications, referring to her as “the best and most qualified candidate we have.” These endorsements are crucial for Harris, as they provide not only financial support but also strategic leverage in the lead-up to the election.
Calls for a Transparent Nomination Process
Despite the enthusiasm, not all prominent figures are fully backing Harris without reservations. Entrepreneur and investor Vinod Khosla has called for an open and transparent nomination process, advocating for a fair evaluation rather than a “coronation.” This reflects ongoing debates within the party about the best path forward in the face of Donald Trump’s candidacy.
Netflix co-founder Reed Hastings, a known Democratic megadonor, previously suggested that Biden should step down. Following Biden’s exit, Hastings and others have emphasized the importance of selecting a candidate who can effectively compete against Trump, particularly in crucial swing states.
The Path Forward for Kamala Harris
With Biden out of the race and Harris emerging as the presumptive nominee, the Democratic campaign is poised for a new phase. The massive fundraising boost is a testament to the renewed energy among Democratic supporters and the party’s strategic shift towards Harris’s candidacy.
As the 2024 election approaches, Harris will need to leverage this momentum to solidify her position as the Democratic nominee. The support from both grassroots donors and high-profile backers will be critical in shaping her campaign and addressing the challenges posed by the Republican challenger, Donald Trump.
FAQ
Q1: How much money did Kamala Harris raise after Joe Biden dropped out of the race? A1: Kamala Harris’s campaign raised nearly $50 million (£38.7 million) following Joe Biden’s withdrawal from the presidential race.
Q2: What was the source of this fundraising surge? A2: The surge in donations came primarily from grassroots supporters via the progressive donation platform ActBlue, as well as contributions from high-profile political donors.
Q3: How does this fundraising total compare to previous events? A3: The $50 million raised is the largest single-day fundraising event for Democrats in the 2024 cycle, and it is the third-largest in ActBlue’s history, following a $73.5 million surge in 2020 after Justice Ruth Bader Ginsburg’s death.
Q4: What role did prominent figures play in Harris’s fundraising efforts? A4: High-profile donors like Reid Hoffman and Alexander Soros have publicly supported Kamala Harris, contributing significant financial support and endorsing her candidacy.
Q5: What concerns remain about Kamala Harris’s candidacy? A5: Some prominent figures, such as Vinod Khosla, have called for a transparent nomination process, emphasizing the need for a candidate who can effectively challenge Donald Trump in the election.
Q6: What does the future hold for Kamala Harris’s campaign? A6: Harris will need to maintain and build on the momentum from this fundraising surge, leveraging both grassroots and high-profile support to strengthen her position as the Democratic nominee and prepare for the general election against Donald Trump.
