Former President Donald Trump raised $45.5 million in the third quarter as he capitalized on publicity from four indictments and a Georgia jail mugshot as major fundraising moments.
(Bloomberg) — Former President Donald Trump raised $45.5 million in the third quarter as he capitalized on publicity from four indictments and a Georgia jail mugshot as major fundraising moments.
Trump, the frontrunner for the Republican presidential nomination, has $37.5 million in cash on hand, of which $36 million is designated for the primary contest, according to a statement from his campaign on Wednesday. That figure is likely to exceed the amounts raised by his 2024 Republican opponents.
Trump has used his wide-ranging legal troubles to encourage donors to give to his campaign. In late August, he posted a photo of his mugshot after surrendering to authorities in Fulton County, Georgia asking supporters to donate. The viral post and his campaign’s continued politicization of his indictments helped fuel the groundswell of financial support reflected in the latest fundraising total.
Some of his third-quarter haul will go to Save America, the leadership political action committee that’s covering legal expenses for Trump and his associates. While 90% of each contribution goes to Trump’s campaign, 10% are currently earmarked for Save America.
Trump has raised about $10.5 million more in the most recent quarter than he did in the previous period. July through September stretch is generally a slow fundraising stretch because fewer donor events are scheduled over the summer. Trump’s strong numbers over the past quarter are likely because of his typical reliance on small-dollar online donations more than large checks from wealthy individuals.
His campaign is required to publicly release more details about his donors and expenses later this month.
This week, Trump appeared in a New York City courtroom for a civil case alleging that he overstated the value of his assets and lied about his wealth. Trump’s myriad legal entanglements will require him to spend time in court, rather than on the campaign trail.
Read More: ‘Trump Show Is Over’ as He Leaves NY Fraud Trial for Florida
Last quarter, Trump’s broader political operation showed signs of a money crunch as one of his allied leadership PAC committees appeared to be strapped for cash after paying for the candidate’s mounting legal fees.
Many of those entities aren’t required to disclose their finances again until January, making it difficult to ascertain how much cash they have on hand. The money raised by Trump’s presidential campaign cannot be used for his unrelated legal expenses.
Florida Governor Ron DeSantis’s campaign announced Wednesday that it raised $15 million over the past quarter, but only has $5 million left to spend in the primary election, a worrying sign to some that the second-highest polling candidate is spending at a faster rate than it’s bringing in.
–With assistance from Bill Allison.
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