Evan Vucci/AP
Donald Trump
- President Donald Trump raised over $1 million per hour and $28.4 million total on June 18, the day of his re-election campaign kick-off, according to Trump campaign spokesman Tim Murtaugh.
- While Trump filed preliminary paperwork to run for re-election shortly after his 2017 inauguration, he formally launched his re-election campaign with a rally in Orlando, Florida on Tuesday.
- Trump's initial fundraising numbers for the first day of his official re-election campaign almost match the $30 million his campaign raised in the three months of 2019's first quarter.
- From a fundraising standpoint, Trump currently has a clear advantage as the incumbent president, and the clear favorite to win the Republican nomination again compared to the splintered field of two-dozen Democrats.
- Visit Business Insider's homepage for more stories.
President Donald Trump raised over $1 million per hour and $28.4 million total on June 18, the day of his re-election campaign kick-off, according to Trump campaign spokesman Tim Murtaugh.
While Trump filed preliminary paperwork to run for re-election shortly after his 2017 inauguration, he formally launched his re-election campaign with a rally in Orlando, Florida on Tuesday with a re-vamped campaign slogan: Keep America Great.
Trump's initial fundraising numbers for the first day of his official re-election campaign almost match the $30 million his campaign raised in the three months of 2019's first quarter between January 1 to March 31, and dwarf the fundraising performance of the 24 Democrats seeking the Democratic nomination.
Former Vice President Joe Biden, the current Democratic frontrunner, announced at a recent New York City fundraising event that since launching his campaign on April 25 he has raised $19.8 million from 360,000 donors who gave an average of $55, including $6.3 million raised on his first day.
Murtaugh did not immediately respond to INSIDER's request for comment on how many donors gave to Trump, the average donation size from Trump's Tuesday fundraising, and how many donors had given to the campaign for the first time.
With the Democratic field split between several high-profile candidates, many both small and big-dollar Democratic donors are still testing the waters. Candidates will be required to file fundraising reports from 2019's second quarter by July 15.
Progressive Democratic candidates like Sens. Bernie Sanders and Elizabeth Warren are largely eschewing high-dollar fundraisers altogether and focusing on building up small-dollar grassroots fundraising networks.
Others, like Biden, Sen. Kamala Harris, and Mayor Pete Buttigieg are actively courting Wall Street for big donations in addition to building up strong online fundraising networks, according to a recent report in The New York Times.
From a fundraising standpoint, Trump currently has a clear advantage as the incumbent president, and the clear favorite to win the Republican nomination again.
As The New York Times' Shane Goldmacher pointed out, Trump's $24.8 million still outpaced Biden, Sanders, Harris and former Rep. Beto O'Rourke's first-day fundraising hauls combined.
Read more: