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How did Kamala Harris raise $231 million within a day? Here is why it is significant for the Democrats

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The FeedLast Updated: Jul 24, 2024, 08:13:00 PM IST

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Synopsis

US Vice-President Kamala Harris has raised political donations totaling $231 million within 24 hours after President Joe Biden decided to end his campaign. The support by the donors to this extent is expected to boost her prospects ahead of the party’s national convention in August. There is opposition to her receiving the presidential nomination and this is expected to strengthen her case.

How did Kamala Harris raise $231 million within a day? Here is why it is significant for the Democrats — How did Kamala Harris raise $231 million within a day?

US Vice-President Kamala Harris who is also among the favorites to receive the presidential nomination from the Democratic party has all the reasons to celebrate. Ever since, President Joe Biden decided to end his election campaign, she has raised a total amount of $231 million through political donations. This is through both small donors as well as large donations.

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The Vice-President has also inherited the funds which had been donated to Joe Biden before he stepped down as the potential candidate. After Joe Biden’s disastrous performance in the first presidential debate, many of the donors had called for his replacement and had threated to withdraw financial support. This is one of the reasons why the president had decided to end his election campaign.

Donations received in support of Kamala Harris:

Many of the party supporters and volunteers donated $81 million in what is being described as small dollar donations. Her campaign team also received $150 million in donations from the big donors. This is being described as the highest donation ever received throughout the history of the US in a span of 24 hours. This amount totaling $231 million has been received within a span of 24 hours after Biden decided to end his election campaign.

How was this amount raised?

The campaign team stated that within an hour, the team raised $11 million on Sunday. The donations also reached $49.6 million within 15 hours after Biden ended his campaign. This amount swelled to $81 million within a period of 24 hours.

The team has secured $150 million in pledges. Biden had already received $122 million by end of June and Harris will be inheriting this amount too.

Does this reflect confidence in the Harris campaign?

The campaign team has renamed the campaign team which was previously known as the Biden-Harris campaign team to ‘Harris for President’. These donations are bound to boost the campaign prospects of Kamala Harris. She is yet to receive an official presidential nomination and there is some opposition to her candidature. This boost in funding may help her argue her case during the party’s national convention.

FAQs

Have the donors resumed their donations to the Democratic Party?
Many of the donors including Abigail Disney had earlier stopped their donations and called on Biden to end his campaign. She has now pledged her complete support to Kamala Harris.

Are there donors who are opposed to Kamala Harris?
There are some donors who are adopting a ‘wait and watch’ approach. Tech billionaires such as Vinod Khosla have said that they will donate only after the party’s national convention in August.

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