How Much Money Has Donald Trump Raised Since Leaving The White House
Former President Donald Trump did not have the cleanest exit in the history of U.S. presidents. There was much tussle and denial, a battle of egos words spewed to tangle the masses against authorities and each other. Americans would remember the Trump era as one where comments from the president’s mouth were often controversial and contained much mockery.
Trump might be out of office, but he continues to be opinionated, both in the political sphere and everywhere else . Even after the suspension of his social media accounts, Trump still manages to generate buzz with his association with the Republicans and public statements.
And if there’s one aspect that Trump will need to forge his way ahead, it’s money. The businessman-turned-politician has had a noteworthy financial ground, but it’s also been riddled with obstacles. Per The New York Times, Trump’s long-concealed records on his financial statement reveal that he’s largely suffered losses to the point of alleged tax avoidance for years. And now that he doesn’t have his presidential armor, he’ll have to be much more careful with his financial operations. So, how much money has the ex-commander-in-chief raised since leaving the White House?
Trump Has Raised Over $100 Million For His 2020 Re
The president is gearing up for 2020 already.
President Donald Trump has raked in more than $106 million for his bid for re-election even though it is over two years away, new Federal Election Commission reports show.
The total, raised since January 2017, includes contributions received through his primary campaign committee as well as two affiliated committees: Trump Victory and Trump Make America Great Again. A portion of the money raised through Trump Victory and Trump Make America Great Again goes to the Republican National Committee.
Just from July through September, the three committees raised more than $18 million and spent over $12 million. They kicked off October with nearly $47 million in cash on hand in Trumps war chest.
The new reports also show spending over the last quarter that reflects an increasingly aggressive campaign by Team Trump, led by 2020 campaign manager and digital guru Brad Parscale.
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On the accusations against Parscale Strategy and American Made Media Consultants, Fischer said, “This scheme flies in the face of transparency requirements mandated by federal law, and it leaves voters and donors in the dark about where the campaign’s funds are actually going.”
At the time the complaint was filed, Parscale told ABC News that “This is just political theater 100 days out.” The Trump campaign, on the role of the two vendors and the payments, told ABC News at that time that the campaign complies with all campaign finance laws and regulations.
It’s unclear if the Federal Election Commission has taken any action on the complaint.
ABC News’ Will Steakin and Katherine Faulders contributed to this report.
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Y Committees And Incumbent Presidents
- See also: Party committee fundraising, 2019-2020
The following chart compares combined fundraising figures for the Democratic National Committee and Barack Obama during the 2012 campaign cycle with those for the Republican National Committee and Donald Trump in the 2020 campaign cycle.
So far, Trump and the RNC have consistently outpaced the fundraising figures posted by Obama and the DNC. As of the Post General report in Year 4, Trump and the RNC have raised a combined $1.9 billion, while Obama and the DNC had raised a combined inflation-adjusted $1.4 billion.
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Over the past year, Trump has been fundraising with numerous allies through various vehicles, including his Save America PAC and his presidential campaign committee-turned PAC, Make America Great Again PAC.
Save America, in particular, was set up as a leadership PAC, which is designed to allow former and current lawmakers or prominent political figures to raise money and boost their allies, often with the purpose of advancing their political influence.
Last year, Save America raised $700,000 in a joint fundraising operation with Sen. Lindsey Graham, R-S.C. More recently, the PAC raised roughly $202,000 with Trump-endorsed Florida House hopeful Anna Paulina Luna, new disclosure filings show.
Save America had also raised massive sums with the Republican National Committee in the weeks following the 2020 election, but the two have since stopped officially fundraising together. The RNC and other GOP party committees, however, continue to frequently appeal to donors by using Trump’s name in fundraising emails and messages.
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Trump Lost The 2020 Election He Has Raised $2075 Million Since
President Trumps nonstop fund-raising in the month after his loss at the polls ensures his new political operation whatever shape it takes will continue to be well-financed.
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Even in defeat, President Trump continued to raise money at some of the fastest rates of the year, pulling in $207.5 million in the month since Election Day along with the Republican Party as he made baseless claims of voter fraud to undermine the legitimacy of the election.
Mr. Trumps campaign apparatus has continued to aggressively solicit donations under the guise of supporting his various legal challenges to the election of Joseph R. Biden Jr., but as of now 75 percent of donations goes to a new political action committee that Mr. Trump formed in mid-November, up to the PACs legal limit of $5,000. The other 25 percent goes to the Republican National Committee. Only if a donor gives more than $6,000 do any funds go to Mr. Trumps formal recount account.
His campaign did not release a breakdown of how the $207.5 million was divided. The funds are split among the new PAC, called Save America, the R.N.C. and two committees operated jointly by the party and the campaign, with some money also going toward paying off Mr. Trumps campaign debts.
Firm Involved In Jan 6 Rally Rakes In Millions From Trumps Political Operation
Trumps political operation also continued to route payments to at least one firm involved in the rally that preceded the Jan. 6 Capitol attack, even after the public hearings kicked off in June, OpenSecrets analysis of campaign finance filings found.
Groups aligned with Trump have paid about $15 million to Event Strategies Inc., a firm named in the permit for the Jan. 6 rally and also employed two individuals involved in the demonstration, since the 2016 election cycle. About half of that over $7.2 million came in the first seven months of this year, OpenSecrets found.
The bulk of those payments to Event Strategies Inc. came from Trumps Save America leadership PAC.
Overall, individuals and firms involved in organizing the Jan. 6 rally have received about $17 million in payments from Trumps political operation with about $14 million since the start of the 2020 cycle including in the weeks leading up to Jan. 6, 2021.
The Truth and Courage PAC also started paying Event Strategies in 2022, racking up about $73,000 in payments. The super PAC, which is aligned with Sen. Ted Cruz , has spent over $315,000 supporting Republican candidates in 2022 midterms.
Senior Data Analyst Brendan Glavin contributed to this report.
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The Big Ripoff: Jan 6 Committee Lays Out How False Election Claims Fueled Trump Fundraising
Washington The House select committee probing the charted a path Monday showing how the Trump campaign and allies used baseless claims of election fraud to raise millions of dollars from the former presidents supporters money that was then funneled into the pockets of entities with close ties to Trump.
The fundraising roadmap was laid out by Rep. Zoe Lofgren, a Democrat from California who played a leading role in the committees second day of hearings, which focused on how Trump embraced unfounded claims the election was stolen even as close administration and campaign advisers knew that wasnt the case.
The Trump campaign, she said, used these false claims of election fraud to raise hundreds of millions of dollars from supporters who were told their donations were for the legal fight in the courts. But the Trump campaign didnt use the money for that. The Big Lie was also a big ripoff.
According to the committees findings, detailed in a video played near the end of the hearing, the former presidents campaign pushed the narrative of a rigged election even as legal challenges raising the same claims had failed before dozens of judges, including some appointed by Trump himself.
Video from the rally shows Guilfoyle spoke for less than three minutes before handing the microphone over to Trump Jr., the former presidents eldest son.
Trump 2020 Campaign Raised $46 Million In Final Quarter Of 2019
Donald J. Trump for President, Inc. on New Years Day announced that the presidents re-election campaign had raised $46 million in the last quarter of 2019making the 4th quarter the campaigns best since the beginning of the 2020 election cycle.
Despite being impeached by the Democrat-led House in mid-December, Trumps campaign ended the year with $102.7 million cash on hand. The amount only represents fundraising for Donald J. Trump for President, Inc. and does not include finances raised by the Republican National Committee or any other joint fundraising committees. The fourth quarter ran between October 1 and December 31.
President Trumps unprecedented fundraising is testament to his wide grassroots support and his stellar record of achievement on behalf of the American people, Brad Parscale, the manager for Trump 2020 campaign, said in a statement emailed to Newsweek.
Democrats and the media have been in a sham impeachment frenzy and the Presidents campaign only got bigger and stronger with our best fundraising quarter this cycle, he added. The Presidents war chest and grassroots army make his re-election campaign an unstoppable juggernaut.
The Trump reelection campaign started 2019 with $19.3 million cash in hand and raised roughly $143 million more throughout the year, $83.4 million of which has been banked.
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Money Tracker: How Much Trump And Biden Have Raised In The 2020 Election
Which presidential candidate has the fundraising advantage?
Heres how much money the campaigns of President Trump and former Vice President Joe Biden raised, according to their Federal Election Commission filings.
This is the final update, reflecting contributions through November 23.
Of course, the universe of campaign finance is far bigger than what one candidate raises alone. Each party has its own committee to help elect a president, which can work in concert with the official campaign and further contributes to the war chest.
And campaigns often announce those joint fundraising totals before filing their FEC paperwork, so what this tracker has and what the campaign says can differ.
Also, groups like super PACs, which can raise and spend unlimited amounts, can help or hurt the fortunes of a presidential nominee. On both Bidens and Trumps sides, these independent groups have raised tens of millions of dollars on their own.
This story was originally published on May 20, 2020.
Where Did The Big Money Go
Very large donations in U.S. presidential elections are directed to super PACs or hybrid PACs because of the $5,600 limit on how much an individual can give to a candidates official campaign committee per election cycle. America First Action, a single-candidate, pro-Trump super PAC founded in April 2017 to support his agenda and deliver him a victory, was the primary recipient of funds from his wealthy backers.
Millions of dollars have come into the super PAC from the affiliated America First Policies nonprofit, but because it doesnt disclose its donors, its known as a dark money group, and we cant be certain who contributed to it. Trump supporters may have also given to joint fundraising committees set up for the presidential campaign and the Republican National Committeefor example, Trump Victory or the Trump Make America Great Again Committee.
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Questions Abound As Trump Raises And Hoards Huge Sums Of 2024 Cash
Without any declared candidacy, and with little spent on Republican candidates, the purpose of Trumps war chest remains opaque
Donald Trumps ferocious money-raising machine, powered in equal measure by grassroots giving and large individual and corporate donations, has never really stopped turning and it is currently raising huge sums of cash.
As of this month, Trump has $108,046,100 saved in his Save America political fund, more than the Republican and Democratic national committees combined, and 12 times as much as the fund Pac for the Future for the Democratic House speaker, Nancy Pelosi.
And all of that has been raised while Trumps own ambitions remain unclear. Though his grip on the Republican party remains tight and he has waged an endorsement war against his opponents the big question over whether Trump will run again for the White House remains unanswered.
Without any declared candidacy, his war chests purpose and thus also that of its master, is unclear and deliberately so.
Trump cannot easily spend the money on himself should he decide to run in 2024. Save America is registered as a leadership pac, or political action committee, not a campaign tool for himself. Yet Trump is not yet spending much, according to its leadership purpose of supporting Republican candidates going into this years hotly contested midterm elections.
How Else Could Trump Use His Existing Political Operation
Political observers also said the operation Trump has built since leaving the White House can aid his 2024 candidacy in other ways.
The former presidents relentless fundraising over the last two years has established a small-dollar donor list thats constantly updated, said Doug Heye, a Republican strategist and former spokesman for the Republican National Committee.
Under federal law, the campaign must compensate the political committee that owns the list for the right to use it.
Its the largest political donor list in the world, Heye said. It gives him the ability to raise a lot of money very quickly.
Trumps new campaign began to ask for donations before he had left the announcement stage Tuesday night, with a text message blasted out to supporters, urging them to Become a 2024 Presidential Founder.
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Stepien’s predecessor, Brad Parscale, received more than $17 million through his firm Parscale Strategy for digital and political consulting over the last two years, but it’s unclear how much of that went into his pocket.
Parscale’s firm, in particular, was subject of a FEC complaint in July, accusing the Trump campaign of obscuring nearly $170 million worth of campaign spending over the last two years through so-called “pass through” vendors,” including Parscale’s firm.
In the complaint, Campaign Legal Center claimed Parscale Strategy and American Made Media Consultants — two companies set up and run by campaign leadership including Parscale — appeared to provide a variety of services to the campaign, but really served as “clearing house” firms that dole out contracts and payments to various subcontractors and vendors without revealing the ultimate recipients of the donor money. The lack of disclosure of the campaign’s payments to subcontractors, Campaign Legal Center wrote in the complaint, is a violation of the FEC rule that requires campaigns to itemize disbursements to its ultimate vendors.
“Trump declared his 2020 candidacy on his first day of office and has been raising money ever since,” said Brendan Fischer, the director of federal reform at Campaign Legal Center, a Washington-based nonpartisan group. “But it is difficult to assess how the Trump campaign has burned through the money raised because it has disguised hundreds of millions of dollars of its spending.”
Trump Has Raised $170 Million Since Election Day
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By Shane Goldmacher and Maggie Haberman
President Trump has raised about $170 million since Election Day as his campaign operation has continued to aggressively solicit donations with hyped-up appeals that have funded his fruitless attempts to overturn the election and that have seeded his post-presidential political ambitions, according to a person familiar with the matter.
The money, much of which was raised in the first week after the election, according to the person, has arrived as Mr. Trump has made false claims about fraud and sought to undermine public confidence in the legitimacy of President-elect Joseph R. Biden Jr.s victory.
Instead of slowing down after the election, Mr. Trumps campaign has ratcheted up its volume of email solicitations for cash, telling supporters that money was needed for an Election Defense Fund.
In reality, the fine print shows that the first 75 percent of every contribution currently goes to a new political action committee that Mr. Trump set up in mid-November, Save America, which can be used to fund his political activities going forward, including staff and travel. The other 25 percent of each donation is directed to the Republican National Committee.
A donor has to give $5,000 to Mr. Trumps new PAC before any funds go to his recount account.
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Trump Raised $200m From False Election Claims What Happens To The Money Now
The president could use the funds to ensure he and his allies remain a powerful force in US politics
The battle is lost. The supreme court and electoral college have spoken. Even the Senate majority leader, Mitch McConnell, so adept at remaking the rules for political advantage, has acknowledged that Donald Trump will not be the next president.
But the money flowing into Trumps political coffers suggests that defeat will not drive the soon-to-be-former president into the political shadows.
Trump has been on a fundraising drive since the election, rapidly bringing in an astonishing $200m or more on the back of his false claims that the vote was rigged.
His campaign bombarded supporters with emails and text messages as many as 30 a day pleading for donations to a fighting fund to challenge the result. But with the election settled, that is not where the money is going.
Most of the cash is directed to Save America, an organisation formed as a leadership political action committee shortly after the election. Leadership Pacs were designed to allow individuals to raise money in support of a favoured candidate and Trump cannot legally use the proceeds to directly fund a run for office himself, such as another bid for the presidency in four years.
But Brendan Fischer, a campaign finance specialist at the Campaign Legal Center, said Trumps fundraising was unprecedented and evidence of undimmed political ambition.
