Joe Biden’s presidential campaign and the Democratic National Committee (DNC) raised a record-shattering $364.5 million during the third quarter of 2020, reports The Hill. This is the most money ever raised by a presidential campaign, and it is more than double what President Donald Trump and the Republican National Committee raised during the same period.
The Biden campaign alone raised $71 million in the third quarter, more than double what it raised in the second quarter. Additionally, the DNC raised $193.5 million.
The fundraising success is remarkable, considering the Biden campaign’s late start and the COVID-19 pandemic. The Biden team was able to capitalize on the momentum of the summer’s mass demonstrations against police brutality, as well as the deep divide between Trump and many Republican officials.
Additionally, Biden’s fundraising outpaced Trump’s in both online and traditional support. Biden’s campaign and joint fundraising committees with the DNC said they received 5.5 million donations in the third quarter at an average of $56 per donation.
Biden’s campaign has said that it will use the record-breaking amount of money to launch voter-outreach initiatives targeting battleground states, register new voters, and mobilize grassroots support.