Biden Holds the Most Cash in Presidential Race: Filings

President Joe Biden delivers remarks on the reported death of Alexei Navalny from the Roosevelt Room of the White House on Feb. 16, 2024. (Anna Moneymaker/Getty Images)

President Joe Biden’s principal campaign committee won the money race in January.

On Feb. 20, a number of bodies registered with the Federal Election Commission issued disclosures on their fundraising and spending activities. Not every part of the complex financial networks flowing cash to candidates is reported, however.

Joe Biden

President Joe Biden’s principal campaign committee, Biden For President, reported it had nearly $56 million on hand at the end of January.

In its monthly report, the committee said it raised $15.7 million in total receipts in the first month of 2024 and spent about $5.7 million.

On Feb. 20, the Biden campaign announced President Biden and the Democratic National Committee had raised more than $42 million in January. The campaign also said it had access to more than $130 million in cash.

President Biden’s reelection campaign will be able to tap into three key funds in 2024. Only one, Biden For President, released its fundraising figures on Tuesday evening.

The other two organizations—the joint fundraising committee Biden Victory Fund and the hybrid PAC FF PAC— currently report to the FEC on a quarterly basis and will not release their figures again until the middle of April.

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The DNC, which reports on a monthly basis as well, revealed it brought in about $17.4 million in January while spending about $14.3 million. The Democratic Party’s committee said it had about $24.1 million on hand at the end of January.

When it last reported, at the end of 2023, the Biden Victory Fund said it had about $37.5 million in cash on hand. FF PAC said it had about $24 million on hand.

Donald Trump

The February report painted a more complete picture for the Republican Party’s presidential hopefuls. Nevertheless, both former President Donald Trump and former U.S. Ambassador to the United Nations Nikki Haley’s joint fundraising committees did not issue a report on Tuesday.

President Trump, for his part, raised $21.2 million from three financial organizations: his principal campaign committee, Donald J. Trump for President 2024 Inc.; his leadership PAC, Save America; and a super PAC, Make America Great Again Inc.

The three organizations said they collectively retained about $47.7 million in cash on hand at the end of January. The groups spent more than $52.2 million.

President Trump faced two multimillion-dollar judgments against him in the first two months of the year. PACs linked to him spent more than $3.6 million on legal fees in January alone.

When President Trump’s joint fundraising committee last reported at the end of 2023, it had about $3.6 million in cash on hand.

Nikki Haley

Two bodies funding Ms. Haley’s run for the White House said they collected more than $23.6 million in January.

Ms. Haley’s principal campaign committees, Nikki Haley For President and SFA Fund Inc., said they had more than $14.9 million in cash on hand at the end of the month. The two groups spent about $26.8 million in the first month of the year.

A statement issued by the campaign on Feb. 21 celebrated Ms. Haley’s fundraising reports and ridiculed President Trump’s spending on legal fees.

“It doesn’t matter how many gold sneakers Donald Trump sells, his endless drama and legal bills will deplete the Republican Party and bring even more electoral losses,” Nachama Soloveichik, a spokeswoman for Nikki Haley For President, said in a statement.

Two other bodies financing Ms. Haley’s campaign are currently reporting on a quarterly schedule. The joint fundraising committee Team Stand for America and qualified unauthorized PAC Stand for America PAC will not report until the middle of April.

When those two organizations last reported at the end of 2023, they collectively had about $4.4 million in cash on hand.

Robert F. Kennedy Jr. holds a voter rally in Grand Rapids, Mich., on Feb. 10, 2024. (Mitch Ranger for The Epoch Times)

Robert F. Kennedy Jr.

Independent presidential candidate Robert F. Kennedy Jr. provided the most transparent financial picture of all the major contenders. Both of his committees issued disclosures on Tuesday evening.

At the end of January, Mr. Kennedy’s principal campaign committee—Team Kennedy—and a hybrid PAC supporting him —American Values 2024— had about $6.3 million in cash on hand.

The campaign, which made waves with a Super Bowl ad that more than 100 million American likely saw on Feb. 11, raised about $12.4 million in the first month of 2024. It spent about $27.8 million.