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Trump’s cash haul skyrocketed after launch in 2024, but not as much as in the past

The launch of the former president’s campaign came at an odd time for fundraising, namely the week after a national general election, when donor turnout spikes and then dwindles to a whisper before rebounding as The next election is coming up. But Trump had somewhat resisted such trends in the past, raising substantial funds after the 2020 election, for example, when he falsely claimed voter fraud.

The fundraising data points in the same direction as recent polls and a wave of criticism from other Republicans who have been hesitant to take on Trump in the past: The former president’s position within his own party has been damaged as that he is facing legal problems and the consequences of a difficult midterm for his endorsed candidates and, more broadly, for his party.

But the millions he is saving for a long campaign also illustrates that he remains a powerful force within the Republican Party.

Nov. 15 and 16 were Trump’s best fundraising days of 2022, aside from the days after the FBI searched Mar-a-Lago for classified documents. He too surpassed $1 million in daily fundraising six times in 2021, with four of the six days coming before the January 6 attack on the US Capitol.

Trump is the only major Republican figure to have formally announced a 2024 campaign so far, and his fundraising prowess could prove useful against a variety of other potential candidates. Florida Gov. Ron DeSantis, former Vice President Mike Pence and former South Carolina Gov. Nikki Haley have indicated in recent weeks that they are likely to press ahead with their own campaigns despite Trump’s early announcement.

After hinting that he would run again since leaving office in 2021, Trump launched his 2024 presidential bid on November 15. The announcement came just a week after a disappointing midterm election for the Republican Party as the party failed to regain control of the Senate. , with several candidates driven through tough primaries for the former president’s endorsement coming up short in the general election.

Trump’s ability to raise funds online through small donors has been a huge advantage compared to other Republican candidates. He continued to raise record sums after leaving office in 2021, using the funds to fund trips and rallies. After complaints from other Republicans that he wasn’t doing enough to support the party, his group also funneled more than $15 million through a super PAC to support his endorsed Senate candidates in Georgia, Arizona, Nevada, Pennsylvania, and Ohio, though the Republicans ultimately won only one of those five races.

Trump’s super PAC remarkably did not spend ahead of this week’s Senate runoff in Georgia, nor did the former president campaign in person with Republican nominee Herschel Walker, the former football player who failed to win against the Democratic senator. Raphael Warnock on Tuesday.

The super PAC, known as MAGA Inc., will now turn its attention to supporting Trump’s White House bid. He reported more than $54 million in cash on hand as of late November, with most of that money coming via transfers from Trump’s Save America PAC, which was his main political vehicle between losing the 2020 election and announcing his offer of return of 2024.

Meanwhile, the campaign finance report filed Thursday by Trump’s joint fundraising committee showed a total of $15 million raised between Oct. 1 and Nov. 28.

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