After Biden: Democrats Overflow Their Party with Money
This could have a explosive effect: After US President Biden's surprise campaign withdrawal, donations to the Democratic Party are surging. An expert expects the floodgates to open.
Following the unexpected campaign withdrawal of US President Joe Biden, online donations to the Democratic Party have skyrocketed. According to the "New York Times," over $50 million (around 46 million Euro) was donated online on Sunday alone. The newspaper cites ActBlue, the primary platform for processing Democratic campaign donations, as a source.
The analysis by the Times reveals that donations saw a massive increase: At their peak, they totaled $11.5 million per hour in the immediate aftermath of Biden's withdrawal. In comparison, only around $200,000 per hour was being donated beforehand. Most of these donations were from small donors, who were not only donating to Biden or his Vice President Kamala Harris, but to the party in general. The official website of Biden's campaign now directs donors to ActBlue.
ActBlue declared Sunday to be the strongest fundraising day in the current campaign. Within seven hours, $46.7 million had already been raised. According to the "New York Times," this was the most financially successful day since 2020. The paper reports that this was the second time the $50 million mark had been surpassed in a single day. The last time was in September 2020, following the death of Ruth Bader Ginsburg, former Justice of the Supreme Court. Democrats donated a total of around $73.5 million (around 67 million Euro) online in response.
"The floodgates will open"
It is predicted that this sum will be surpassed. The exact amount is still unknown. "This could be the biggest fundraising moment in the history of the Democratic Party," wrote Kenneth Pennington, a digital strategist for the Democrats, on X. Later, he added, that the total donations in the 24 hours after Biden's campaign withdrawal could reach over $90 million.
Not only ActBlue is already showing signs of this development. "The floodgates will open," explained Chris Korge, who oversees the finances of the "Biden Victory Fund," to NBC News. "Many people have held back their donations and will now make them, because the whole situation has hampered our fundraising efforts so far."
Korge reportedly told the broadcaster that several major donors had registered with him. Some had even cried. "People are emotional, because they know how difficult it was to make this decision," he said. "Major donors are incredibly receptive to his support and are really excited. I think this will trigger a wave of donations."
On Sunday evening German time, US President Biden unexpectedly announced that he would not be running for re-election to the White House. Following growing internal party doubts and poor polling numbers, he dropped out of the race against Donald Trump for the November elections. In the race to succeed Biden, his Vice President Kamala Harris is currently leading the pack. Several prominent Democrats are also making their move.
The surge in donations to the Democratic Party after US President Joe Biden's campaign withdrawal is predicted to continue, with digital strategist Kenneth Pennington estimating over $90 million in donations within 24 hours. Chris Korge, overseeing the "Biden Victory Fund," expects a large influx of donations, mentioning emotional major donors excited to support a potential Biden successor.
Given the United States Presidency Election 2024 is approaching,Democratic contenders, including Vice President Kamala Harris, are likely to benefit from this increased financial support, fueled by the unexpected withdrawal of President Biden.
