Vice President Kamala Harris’ presidential campaign has reported an astounding fundraising achievement, garnering over $100 million between Sunday afternoon and Monday evening. This impressive financial milestone was announced early Tuesday, just after President Biden officially ended his bid for reelection and endorsed Harris on Sunday.
The eye-popping sum, amassed through Kamala Harris’ campaign, the Democratic National Committee (DNC), and joint fundraising committees, showcases the vice president’s significant financial edge over potential competitors for the Democratic nomination. Harris’ campaign revealed that $81 million was raised within the first 24 hours following President Biden’s announcement, marking the largest single-day fundraising total in presidential campaign history. The campaign highlighted that more than 888,000 grassroots donors contributed in that period, with 60% making their first donation of the 2024 election cycle. Additionally, a call hosted by “Win with Black Women” alone raised $1.6 million, according to Team Harris.
Grassroots Momentum Drives Record-Breaking Donations
The $100 million total, sourced from over 1.1 million unique donors, underscores the widespread grassroots support for Harris’ campaign. Notably, 62% of these contributions came from first-time donors, reflecting a surge in new engagement. Kevin Munoz, spokesperson for Kamala Harris’ campaign, emphasized the significance of this grassroots energy, stating, “The historic outpouring of support for Vice President Harris represents exactly the kind of grassroots energy and enthusiasm that wins elections.”
Munoz highlighted the “groundswell” of support for Kamala Harris, noting the broad and diverse coalition forming to support her candidacy. This sentiment was echoed by Alan Solomont, former ambassador to Spain and a top Democratic fundraiser, who reported receiving multiple inquiries from donors eager to contribute to the Harris campaign. This enthusiastic backing from new and existing supporters alike signals strong and early momentum for Harris as she seeks to solidify her position within the Democratic Party and among voters.
Democratic Party Leaders Rally Behind Harris
Prominent Democratic figures have expressed confidence in Kamala Harris’ campaign infrastructure and fundraising capabilities. Steve Israel, former Democratic congressman from New York and ex-chair of the House Democrats’ campaign arm, highlighted the expected consolidation around Harris. He noted her advanced campaign infrastructure and substantial fundraising advantage as critical factors in unifying the party swiftly. “Democrats are making a realistic assessment that with 107 days before the election, we don’t have a long runway to get our campaign airborne and at full speed,” Israel stated.
The quick coalescence around Kamala Harris is seen as essential given the short timeframe before the election. Her campaign’s ability to mobilize substantial financial resources and attract widespread grassroots support positions her favorably as the Democratic nominee. As Kamala Harris continues to build her campaign, the focus will remain on leveraging this early momentum to connect with voters and strengthen her bid for the presidency.
Wall Street Leaders and Prominent Democrats Rally Behind Harris
Ray McGuire, president of Lazard and a top Black executive on Wall Street, predicts significant support for Harris from financial leaders. “Many Wall Street leaders will rally to support her. They recognize what’s on the line. The credibility she has will resonate from Wall Street to Main Street,” McGuire asserted. Highlighting her impressive talent and proven track record with President Biden, McGuire pointed to initiatives like the CHIPS and Science Act as evidence of her capability.
The vice president’s campaign officially launched on Sunday, shortly after President Joe Biden announced his exit from the 2024 presidential race. Biden quickly endorsed Harris, and other high-profile Democrats, including Michigan Gov. Gretchen Whitmer, Pennsylvania Gov. Josh Shapiro, and California Gov. Gavin Newsom, followed suit. By Monday evening, Harris had secured the support of at least 27 state delegations, surpassing the majority of Democratic delegates needed for the nomination. These endorsements, if they hold, will officially nominate Harris during a virtual roll call ahead of the Democratic National Convention in Chicago next month.
President Biden’s withdrawal came after a challenging debate performance against Donald Trump, raising concerns among Democrats about his fitness for a second term. This performance prompted numerous Democrats to urge Biden to step aside, paving the way for Kamala Harris’ candidacy. Despite the formidable fundraising efforts by Trump’s campaign, which reported raising $331 million in Q2 compared to Biden’s $264 million, Harris’ swift consolidation of support suggests a robust Democratic front heading into the election.
