As the latest deadline for the Federal Election Commission (FEC) submissions came and went this Monday, it’s no surprise that Donald Trump has once again proved himself to be a formidable fundraiser among his Republican peers in the run-up to the 2023 presidential nomination. Trump’s campaign accumulated a significant sum of approximately $54 million during the first half of this year, comfortably surpassing fellow contenders Ron DeSantis ($19.7 million) and Vivek Ramaswamy ($19.2 million, predominantly self-funded).
Trump’s Campaign Funding Triumph
After Monday’s FEC filing deadline, Donald Trump leads in fundraising. His 2023 presidential nomination campaign amassed around $54 million.
Trump Outpaces Republican Contenders
He’s far ahead of Ron DeSantis and Vivek Ramaswamy. They collected $19.7 million and $19.2 million respectively.
Spending Exceeds Campaign Contributions
However, most funds have been spent. They were raised in 2022 or held by the campaign at the start of 2022.
Legal Defense Drains PAC Funds
The Washington Post indicates that Trump’s Leadership PAC, Save America, has funded his legal defense. This has significantly depleted its resources.
Dwindling Reserves in PAC
The PAC’s initial $100 million from Jan. 1, 2022, has nearly vanished. Cash-on-hand was only $3.7 million by June 30, 2023.
Limited Funds in Joint Fundraising Committee
Only $5.7 million remains in Trump’s Joint Fundraising Committee. This committee can distribute funds to the Candidate Committee and the Leadership PAC.
Candidate Committee Holds Majority of Funds
Trump’s Candidate Committee has the most funds. It held $22.5 million late in the year. It only started collecting funds after Trump’s official campaign launch on Nov. 15, 2022.
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