Kamala Harris Raises $50 Million Following Biden’s Exit from Presidential Race

Democrats have quickly donated nearly $50 million (£38.7m) to Vice-President Kamala Harris presidential campaign after President Joe Biden announced on Sunday that he will not run for re-election.

ActBlue, the progressive donation platform, said the donations from small donors marked “the biggest fundraising day of the 2024 cycle.” They added, “Grassroots supporters are energized and excited to support her as the Democratic nominee.”

Many donors had stopped giving money due to concerns about Biden’s age, but they are now resuming their support. Over $27.5 million was raised in the first five hours of Harris’s campaign, almost doubling by the end of the day.

According to the New York Times, this surge in donations is the largest for online contributions to Democrats since 2020, when ActBlue raised $73.5 million after Supreme Court Justice Ruth Bader Ginsburg died. It is also the third-largest fundraising day in ActBlue’s history, which includes donations to most Democratic members of Congress and various non-profits.

This influx of funds is a big change for the Democratic Party, which had seen declining support from major donors after Biden’s poor performance in a June debate against Donald Trump. Grassroots funding from small donors had also decreased, according to Biden campaign insiders.

But after Biden announced he would not run and endorsed Harris for president, Democrats quickly went online to donate. Joe Cotchett, a political fundraiser, told NBC News that donors “are now ready to dig into their pockets.”

Gideon Stein, president of the Moriah Fund, said he will start donating again after pausing due to concerns about Biden’s chances of winning.

Many prominent Democrats, like California Governor Gavin Newsom and Pennsylvania Governor Josh Shapiro, have shown support for Harris. Transportation Secretary Pete Buttigieg also expressed his support on X, saying Harris “is now the right person to take up the torch, defeat Donald Trump, and succeed Joe Biden as president.”

Former President Bill Clinton and Secretary of State Hillary Clinton also support Harris, saying, “Now is the time to support Kamala Harris and fight with everything we’ve got to elect her.”

However, some key figures, like former President Barack Obama, former Speaker Nancy Pelosi, Senate Majority Leader Chuck Schumer, and House Minority Leader Hakeem Jeffries, have not yet endorsed Harris. Their support will be important to show party unity and rally more support.

These senior Democrats might still endorse Harris, and if they do, it could provide an extra boost to her campaign.