Joe Biden‘s reelection campaign raised almost $100 million in the most recent quarter, helped in part by a huge haul during a Los Angeles fundraising swing in December.
The campaign said that it raised more than $97 million for the campaign and the Democratic party during the October to December time frame. That exceeds the amount raised in the second and third quarters of 2023, when around $72 million was raised in each of those time frames.
The Biden campaign also said that it had $117 million in cash on hand, the highest by any Democratic candidate at this point in the cycle.
Biden’s coffers got a boost from Hollywood donors, when he trekked to California for his first Los Angeles fundraising swing since announcing his reelection bid. That trip raised more than $15 million, according to Jeffrey Katzenberg, who is serving as campaign co-chair.
TJ Ducklo, senior adviser to the campaign, said in a statement, “While most of the Republicans have not yet announced their fundraising numbers, we fully expect to lap them. Several times.”
Former UN ambassador Nikki Haley, who is competing to be the clear alternative to Donald Trump in today’s Iowa caucuses, raised $24 million in the latest quarter. Other candidates have not announced their totals. The campaign fundraising reports are due on Jan. 31.
The Biden campaign said that the average contribution was $41.88 and that 97% of the contributions were under $200.
The Biden campaign has set up a joint fundraising committee with the DNC and state parties, allowing for the collection of much larger contributions. The Biden Victory Fund can accept contributions up to $929,600 from an individual donor.
Katzenberg is scheduled to join Illinois Governor J.B. Pritzker and Sen. Tina Smith (D-MN) at a press conference in Des Moines later today to counter the media coverage of the Republican caucus.
