In October, Harris maintained a substantial financial lead over Trump.
Democrat started October with a substantial lead in funding, having $346 million at their disposal through the committees they manage within the national Democratic Party. This exceeded the nearly $285 million available to their Republican opponent for the remaining stretch towards Election Day, according to the September filings submitted to the Federal Election Commission.
Since joining the presidential race in July, Harris has consistently surpassed Trump in fundraising, accumulating over $1 billion in support. Last month, her main campaign committee outperformed Trump's by more than 3-to-1, as per the new filings.
However, Harris' campaign advisors have adopted a cautious approach, stressing the need to maintain a high fundraising pace due to the short time frame to introduce Harris to voters and the substantial funds being invested by Trump's wealthy backers.
Over the weekend, Harris' vice presidential candidate, Minnesota Governor Tim Walz, held fundraisers in Boston and Greenwich, Connecticut. The campaign encouraged supporters to donate smaller amounts in celebration of Harris' 60th birthday.
The Harris campaign proudly highlights its support from small donors, stating that 66% of the September funds raised came from grassroots donors. Their number of contributors making recurring donations has increased to 607,000 – close to double the number from the end of June, when President Biden was still the Democratic frontrunner.
Despite her substantial fundraising, Harris is also a prolific spender. Her main campaign committee received around $222 million in September, compared to about $63 million for Trump, but they also spent more – nearly $270 million. This has resulted in a significant advantage on television, with the Harris campaign spending over $196 million on ads in comparison to Trump's $73 million.
Super PAC Gives Millions More to Pro-Trump Group
A pro-Trump super PAC received a substantial additional donation from one of his major benefactors in September, the filings reveal. Timothy Mellon, a secretive billionaire and heir to a banking fortune, contributed $25 million to Make America Great Again, Inc., raising his total donations to the Trump-aligned group to an overwhelming $150 million during this election cycle.
Mellon's September contribution accounted for over 60% of the super PAC's income for the month.
Mellon, who also contributed millions to a super PAC supporting Robert F. Kennedy Jr.'s previous independent presidential bid, has emerged as the single largest publicly disclosed donor in the 2024 election cycle.
Wealthy Democrats Back Harris
The new filings also showed prominent Democratic Party billionaires and other notable figures offering their support to Harris' campaign.
FF PAC, the leading pro-Harris super PAC, raised over $104 million in September, while spending over $118 million on ads promoting Harris in key battleground areas.
The group received major donations from various wealthy benefactors in September, including a $10 million contribution from Facebook co-founder Dustin Moskovitz. Christian Larsen, the co-founder of Ripple Labs, contributed nearly $9.9 million. In August, FEC records show Larsen making a $1 million contribution to the super PAC in XRP, his company's digital currency.
Illinois Governor JB Pritzker contributed $5 million to FF PAC, while billionaire financier Stephen Mandel and his wife, Susan, also donated $5 million collectively.
Other notable contributions to the group came from James Murdoch and his wife, Kathryn, who donated $1 million jointly in September. Murdoch is the younger son of media mogul Rupert Murdoch, who owns the conservative news channel Fox News through his conglomerate News Corp. FEC records show that James and Kathryn Murdoch had previously donated $1 million together to the super PAC in June.
In light of the substantial funding advantage, the Harris campaign is urging continued high fundraising efforts, acknowledging the significant investments made by Trump's wealthy backers in the political landscape.
Additionally, prominent Democratic Party billionaires and other influential figures havealeso shown their support for Harris' campaign, contributing substantial sums to the leading pro-Harris super PAC.
