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Trump vs Biden Live 2020 Election Updates: Polls and Fundraising

2020-07-16 14:16:21

Mr. Biden’s biggest benefactors in the second quarter of 2020, when he became the presumptive Democratic presidential nominee, represent a who’s who of billionaires and influencers in Silicon Valley, Hollywood, Wall Street and beyond. Among those who gave at least $500,000 were Laurene Powell Jobs, the philanthropist and widow of Steve Jobs; Meg Whitman, a former Republican candidate for governor of California and now the chief executive of the streaming company Quibi; George Soros, the billionaire progressive financier; Jeffrey Katzenberg, the Hollywood producer; and Dustin Moskovitz, a co-founder of Facebook.

Mr. Biden had previously announced that he narrowly edged Mr. Trump in total fund-raising with their parties in the last full three months, $282 million to $266 million. New Federal Election Commission filings released late Wednesday shed the first light on the biggest contributors powering Mr. Biden’s financial turnaround, from a candidate who struggled to raise money in the primaries to one now outpacing the incumbent president.

Ever since Mr. Biden became the presumptive nominee in early April, the financial floodgates have opened, as major donors who once backed his rivals rallied behind him and small contributors surged toward the chance to oust Mr. Trump. James Murdoch, the son of the media mogul Rupert Murdoch, and his wife, Kathryn, each gave $615,000 in June to Mr. Biden’s shared committee with the Democratic Party. During the primary campaign, Mr. Murdoch had donated to Pete Buttigieg, the former mayor of South Bend, Ind.

Donation limits during the general election skyrocket because, as the expected nominee, Mr. Biden can raise money simultaneously for his own campaign, the Democratic National Committee and state parties. Checks can be as large as $620,600.

Donors who gave at least $100,000 accounted for more than $53 million of Mr. Biden’s total haul in April through June, records show. Mr. Biden and Mr. Trump’s campaign will not file full reports for their spending and fund-raising until next Monday, though Wednesday’s disclosures offered important revelations both about how much cash Mr. Biden has accumulated and whom he and Mr. Trump have raised money from.

Mr. Biden’s campaign has closely guarded exactly how much cash he has in the bank, along with the D.N.C. But the latest filings suggested he had far surpassed $210 million in cash on hand entering July, a remarkable number given his earlier difficulties.


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