Trump Surpasses Biden in Cash on Hand in June: Filings

Former President Donald Trump, former First Lady Melania Trump, other family members, Republican vice presidential nominee Sen. JD Vance (R-Ohio), and his wife Usha Chilukuri Vance stand on stage on the last day of the RNC in Milwaukee on July 18, 2024. (Madalina Vasiliu/The Epoch Times)

Former President Donald Trump took the lead in the presidential fundraising race in June, according to new federal financial disclosures.

Between July 15 and July 20, every committee registered with the Federal Election Commission issued disclosure statements covering their recent activity. The filings offer the public the clearest view of federal candidates’ financial activities thus far in the 2024 election cycle.

According to the documents, committees working to aid the Trump campaign cumulatively held about $15.6 million more than those helping the Biden campaign entering July.

In June, the first presidential debate between President Joe Biden and former President Trump rocked the 2024 race. President Biden’s shaky performance has resulted in calls from some Democrats to withdraw from the race or refuse the Democratic Party’s nomination for president.

Trump Campaign

Three committees close to former President Trump ended the month with about $245 million in cash on hand.

The three committees—the principal campaign committee Donald J. Trump for President 2024 Inc., the super political action committee Make America Great Again Inc., and the qualified leadership PAC Save America—brought in about $44 million in June. The trio spent $13.4 million that month.

Furthermore, three Trump-allied joint fundraising committees that raised money and transferred it to the campaign or the Republican National Committee collectively brought in about $286.5 million in the second quarter of 2024.

All told, the Trump 47 Committee Inc., the Trump National Committee JFC Inc., and the Trump Save America Joint Fundraising Committee sent out $261.3 million between April and June.

The three funds ended the month of June with about $51.6 million in cash on hand.

The biggest benefactor of the joint fundraising operation was Trump For President. The committee received a total of about $96.1 million from the joint fundraising committees during the quarter.

In June, Trump for President and MAGA Inc. led the way for the Trump campaign.

The campaign committee took in about $21.5 million and used about $9.9 million. It ended the month with about $128.1 million in cash on hand. Meanwhile, the super PAC raised about $22.5 million, spent about $2.3 million, and closed June with about $113.9 million in cash on hand.

MAGA Inc.’s biggest individual boosters in June were Republican megadonors Robert Bigelow and Linda McMahon. Each gave $5 million during the month. Mr. Bigelow, the founder, president, and program manager of North Las Vegas, Nevada, company Bigelow Aerospace, brought his total 2024 support to the super PAC to about $14.2 million. Ms. McMahon, a former administrator of the Small Business Administration during the Trump presidency, has now contributed a total of $10 million so far this year.

President Joe Biden steps off Air Force One upon arrival at Dover Air Force Base in Dover, Del., on July 17, 2024. (Kent Nishimura/AFP via Getty Images)

Biden Campaign

Two committees backing President Biden held about $217.9 million in cash on hand at the end of the month.

The two committees—the principal campaign committee Biden for President and the hybrid PAC FF PAC, or Future Forward—raised about $96.6 million. The pair used about $62.7 million.

Two joint fundraising committees working with the Biden campaign raised a total of about $187.8 million in the quarter.

The two funds, Biden Victory Fund and Biden Action Fund, distributed about $185.1 million. The two accounts closed in June with about $63.2 million in cash on hand.

Of the money that the funds took in, most—about $64.5 million—went to the principal campaign committee of Biden for President. About $32.5 million went to the DNC.

In June, the Biden campaign’s biggest individual supporter was a 501(c)(4) nonprofit linked with Future Forward. Future Forward USA Action gave the PAC $15 million on June 26. As a 501(c)(4), Future Forward USA Action is not required to disclose its donors. For this reason, 501 groups are often called dark money organizations.

Robert F. Kennedy Jr. Campaign

Two committees working for independent candidate Robert F. Kennedy Jr.—who is polling in third place with over 8 percent support—together held about $21.6 million in cash on hand at the end of June.

The principal campaign committee, Team Kennedy, and the allied hybrid PAC American Values 2024 collectively raised $5.6 million in June. The duo spent $9.7 million.

Team Kennedy holds debts of about $3.1 million, all of which are owed to private security firm Gavin de Becker and Associates LP.

American Values holds about $800,000 in debts. Most of that amount, $761,000, is owed to social media giant X Corp. for online advertising.

In June, American Values did not receive a check worth more than $100,000. It received its largest contribution from Abby Rockefeller, a member of the wealthy Rockefeller family, who sent $100,000 on June 12.