The race is on, not just for the delegates, but for the money.
Before what culminated in a chaotic first party contest in Iowa, most of the leading Democratic presidential candidates saw red during the January fundraiser. It’s spending season well, but as the candidates like to remind us, the voting has barely started. The race is on, not just for the delegates, but for the money.
According to new fundraising records filed with the Federal Election Commission Thursday night, Warren was the second-largest fundraiser in the Democratic field after Sanders, grossing $ 10.4 million in January. But the Massachusetts senator also spent $ 22.4 million this month, and entered February with just $ 2.3 million in the bank, the lowest of the remaining top contenders. Likewise, the Buttigieg campaign only grossed $ 6.2 million in January but spent over $ 14 million, ending the month with just $ 6.6 million on hand.
Campaign Warren also took out a $ 3 million line of credit in January and used up $ 400,000, according to the new FEC record. The campaign told ABC News that the campaign had secured the loan “in case it was needed for cash flow” before the Iowa caucuses, but “it was ultimately not necessary.”
Former Vice President Joe Biden also brought in a relatively modest $ 8.9 million and spent $ 10.6 million in January, ending the month with $ 7.1 million on hand, and Senator Amy Klobuchar raised $ 5.5 million and spent $ 7.6 million last month and had $ 2.9 million in cash. .
Meanwhile, Sanders not only continued to lead the pack in fundraising, but also broke his own past fundraising record. He grossed $ 25 million in January alone, more than any other Democratic presidential candidate raised in a quarter in 2019. Sanders’ loot in January was also his quarterly record last year before beating the record by raising more than 34 dollars. million in the last three months of 2019.
Sanders entered primary voting season with a comfortable $ 16.8 million in the bank, overtaking all of his non-billionaire rivals, a reminder of why Sanders is the only candidate who looks competitive anywhere on Super Tuesday.
But former New York City mayor Michael Bloomberg, who is breaking ad spend records with his own money, is also quickly gaining national attention. The billionaire candidate fair in January invested a staggering amount $ 263.6 million of his own campaign money and the campaign used $ 220.6 million in the same month.
From the launch of his campaign in late November until the end of January, Bloomberg has already spent $ 464 million of his own money on his presidential bid.
Billionaire Tom Steyer also invested $ 53 million of his own money into his campaign last month, but his relatively weaker cash-flow power didn’t give him the same boost as Bloomberg’s money for the candidate of the 11th hour.
But campaigns say they are seeing a significant increase in fundraising in recent weeks. The Warren campaign said it had raised more than $ 17 million in the first 20 days of February, and the Klobuchar campaign said on Sunday it had raised $ 12 million since the ABC News debate in New Hampshire earlier this this month.
Democratic presidential candidates have also since gained support for big-budget super PACs. Two new super PACs appeared last week in support of Klobuchar and Warren, giving them a thumbs up before the next one Nevada Caucus and the Super Tuesday primaries.
Pro-Biden super PAC Unite the Country and pro-Buttigieg group VoteVets also continued to engage in an aggressive advertising campaign in support of the two.
But as the Democratic Party gears up for the fast-approaching convention and general election, one of the keys to the Democrats’ victory in November is competing with President Donald Trump’s re-election campaign and massive prowess from fundraiser of the Republican National Committee. In January alone, the Trump campaign, the Republican National Committee and their mutual fundraising vehicles raised a total of $ 60.6 million in January, with more than $ 200 million in cash, according to the campaign.
The Democratic National Committee and its joint Democratic Grassroots Victory Fund fundraising committee raised $ 15 million in January, a DNC spokesperson told ABC News. About $ 10.8 million went to the DNC, the committee’s latest FEC report shows.
ABC News’ Sasha Pezenik and Cheyenne Haslett contributed to this report.