The Democratic candidates for president combined have raised more than three times than President Trump’s re-election campaign.
Although over 20 Democrats joined the race for the White House and 13 potential nominees are still in the running, their collective financial advantage is unprecedented in modern American politics.
At roughly the same point in his re-election campaign, then-President Obama’s GOP rivals combined barely outraised him, while George W. Bush outperformed all of his competitors’ fundraising efforts in 2004.
The president has blown past individual Democratic presidential campaigns in fundraising for his 2020 reelection bid. But the crowded primary field together more than tripled his 2019 cash haul, according to a CNBC analysis of Federal Election Commission filings and campaign statements.
The cash edge reflects a Democratic voter base energized and motivated since Trump’s 2016 election, Bryner said. She added that the pace of donations could reflect a dislike of Trump more than a fondness for any particular candidates — though Democratic contender and prolific fundraiser Sen. Bernie Sanders has a famously devoted following.
Trump still had a fundraising advantage over any of his potential challengers entering 2020. His campaign said it raised $46 million in the fourth quarter, higher than Sanders’ $34.5 million, the biggest haul in the Democratic field.
The Trump campaign has had time to accumulate cash while rivals in a jammed Democratic primary compete for donors. It had more than $100 million in the bank at the end of 2019. Most Democratic campaigns will not announce cash on hand numbers until the end of the month.