According to the newspaper, Donald Trump raised more money than Joe Biden in the second quarter, highlighting how the former president is witnessing an increase in donations at a time when Democratic contributors are increasingly nervous about their candidate’s prospects.
The newspaper says, according to federal campaign data, that the former president’s conviction on May 30 was a major turning point in the race for campaign money.
Fundraising groups aligned with the Republican candidate raised $431.2 million between April and June, about $99 million more than groups supporting Biden, which raised $332.4 million.
The Financial Times said that Trump was far behind Biden in the donations collected until a New York jury convicted him on 34 counts of falsifying business records to cover up secret payments to a porn star. This ruling made Trump the first president to become a felon, and united the Republican Party.
The impact was dramatic, with Trump-aligned fundraising groups doubling their contributions.
Biden’s fundraising is expected to take a hit after the June 27 presidential debate raised widespread concerns about the president’s age and mental fitness to serve a second term.
Top Democratic donors like Stuart Bynum, Mark Pincus, Reed Hastings and Mike Moritz have called on Biden to step down. The extent of that decline will become clear in fundraising reports next month.
Pro-Trump groups will also spend millions of dollars more per week on ads than pro-Biden groups between now and August, according to AdImpact.
Source: Financial Times
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2024-07-22 12:27:56
