Donald Trump raises $24.8 million in less than 24 hours of launching re-election campaign for presidency in 2020

Washington: President Donald Trump raised 24.8 million dollars, less than 24 hours after kicking off his re-election campaign, a figure that dwarfs what the top Democratic contenders took in over the course of months.

 Donald Trump raises .8 million in less than 24 hours of launching re-election campaign for presidency in 2020

U.S. President Donald Trump reacts on stage formally kicking off his re-election bid with a campaign rally in Orlando, June 18, 2019. Reuters

The staggering total was announced in a tweet on Wednesday morning by Republican Party Chairwoman Ronna McDaniel. She declared that it was proof that "enthusiasm across the country for this president is unmatched and unlike anything we've ever seen."

Trump's massive haul is a demonstration of the power of incumbency, underscoring simmering Democratic worries they are not doing enough to prepare for the matchup with Trump.

It's also a sign that Trump's fundraising operation is already in high gear at a time when many Democratic donors have yet to engage and their party contends with a sprawling primary that has drawn more than 20 candidates.

Many of the Democratic White House candidates have hyped their fundraising pulls in the last 24 hours after launching their campaign. Former Vice President Joe Biden reported a 6.3 million dollars funding in the first 24 hours, former Texas Representative Beto O'Rourke took in 6.1 million dollars and Vermont Senator Bernie Sanders reported 5.9 million dollars.

Trump beat all three combined, including the front-runner Biden, whom he bested by nearly fourfold.

Still, his campaign has yet to release a breakdown of how he raised the money, leaving it unclear of how much was raised from wealthy Republican megadonors, versus grassroots supporters who chipped in a few dollars online.

But the cash will add to the existing gulf in resources between Republicans and Democrats.

Trump already reported 48.7 million dollars in cash on hand at the end of March, spread across three committees tied to his campaign. The Republican National Committee had an additional 34.7 million dollars during the same period.

The Democratic National Committee, meanwhile, had just 7.5 million dollars with 6.2 million dollars in debt, records show.

Updated Date: Jun 20, 2019 10:12:11 IST