Joe Biden is expected to report a record-breaking haul of donations for August, raising more than $300 million between his campaign and his shared committees with the Democratic Party, according to two people familiar with the matter.
The sum would shatter past monthly records as small donors have poured money into Biden’s coffers, especially since the selection of Sen. Kamala Harris as his running mate, and big contributors, from Silicon Valley to Wall Street, have given checks that can be as large as $721,300.
In a sign of the financial momentum behind Democrats, ActBlue, the main site that processes donations to the party, reported the second-biggest fundraising day in its history Monday, with more than $35 million donated. A majority of Biden’s August total came from online grassroots donors, according to another person familiar with the figures.
The people familiar with Biden’s fundraising did not know the exact final figure for the month of August or how much higher than $300 million it would be.
The Biden campaign did not immediately respond to a request for comment.
Both sides are ramping up television and digital ad buys, and Biden’s enormous haul ensures he will have the funds both to defend states that Hillary Clinton carried in 2016 and also try to make incursions into Trump’s territory.
However far above $300 million the final figure is, it would far surpass previous monthly hauls by candidates of both parties. It is more, for instance, than what Trump ($90 million) and Clinton ($143 million) raised in August 2016 — combined.
In July, Trump and the Republican National Committee outraised Biden and the Democrats, $165 million to $140 million. Trump entered August with more than $300 million in the bank in tandem with the party; Biden had $294 million, according to the campaigns.
The Trump campaign has not announced its August fundraising total but has said it raised $76 million over its four-day convention last week, slightly more than the $70 million that the Biden campaign said it collected during its convention a week earlier.
In a sign of how flush the former vice president’s campaign is, Biden reserved a two-minute commercial nationally on the final night of the Republican National Convention contrasting himself with Trump.
Jason Miller, a senior adviser to the Trump campaign, scoffed at that use of funds.
“The Biden campaign would’ve been smarter to light it on fire and use it to stay warm on a cold, wintry night,” he said in an interview before the full Biden fundraising figure was known. “They literally just threw it away.”
The Biden campaign had previously announced that it raised $48 million in the first 48 hours after Harris was named as Biden’s vice-presidential choice. Together with the Democratic convention, those two periods add up to nearly $120 million raised in just six days.