Kamala Harris Raises $81M After Biden Exits Presidential Race

Latest News: “Kamala Harris Raises $81M After Biden Exits Presidential Race”

In an unprecedented fundraising surge, Vice-President Kamala Harris has garnered $81 million in donations within 24 hours of President Joe Biden’s withdrawal from the presidential race.

This historic influx of campaign funds marks the largest single-day fundraising event in presidential campaign history. More than 888,000 donors contributed, with the majority making contributions of less than $200, showcasing the energized grassroots support for Harris as the new Democratic nominee.

The announcement of Biden’s exit and his endorsement of Harris reinvigorated the party’s donor base, which had been hesitant due to concerns about Biden’s age and recent performance. ActBlue, the progressive donation platform, confirmed the overwhelming enthusiasm among grassroots supporters on social media.

In the initial five hours of Harris’s campaign, over $27.5 million was raised, a figure that nearly doubled by the end of the day. This remarkable achievement broke previous presidential fundraising records, including the $73.5 million raised after the death of Supreme Court Justice Ruth Bader Ginsburg in 2020.

The surge in contributions represents a significant turnaround for the Democratic Party, which had seen a decline in support from major donors following Biden’s underwhelming debate performance in June against Donald Trump. Grassroots funding had also diminished, but Biden’s decision to step aside revitalized the party’s financial backing.

Support for Harris extends beyond small donors. High-profile political donors have also rallied behind her candidacy. Reid Hoffman, co-founder of LinkedIn, expressed his full support for Harris, calling her “the right person at the right time.” Alexander Soros, son of philanthropist George Soros, echoed this sentiment, describing Harris as “the best and most qualified candidate we have.” However, some, like entrepreneur Vinod Khosla, have advocated for an open nomination process at the convention rather than a predetermined selection.

Win With Black Women, a group of Black women leaders, demonstrated their support by hosting a Zoom call with over 44,000 participants, raising $1.5 million in just three hours. This robust backing underscores the critical role of diverse and dynamic support networks in Harris’s campaign.

Joe Cotchett, a prominent political fundraiser, noted that donors are now prepared to significantly contribute to Harris’s campaign. Gideon Stein, president of the Moriah Fund, resumed his financial support for the party, highlighting renewed confidence in Harris’s electability.

Other influential voices, such as Netflix co-founder Reed Hastings, had previously urged Biden to step down, advocating for a candidate capable of winning swing states. Following Biden’s announcement, Hastings reiterated the importance of selecting a nominee with the best chance of defeating Trump.

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Source BBC