Biden campaign and DNC raise more than $80 million in May
Joe Biden's campaign announced Monday that it raised $80.8 million in May, along with the Democratic National Committee and joint fundraising committee. It's the most the presumptive Democratic presidential nominee has raised to date during the 2020 presidential election cycle.
According to the campaign, more than half of the donors last month were new contributors, signaling a surge in grassroots momentum, with more than 1.5 million new supporters joining the campaign in the last few weeks. The campaign also said the number of online donors has tripled since February. The average online donation in May was $30 and educators continue to be listed as the largest occupation group for donors.
"I'm humbled and honored that you have put your trust in me as your presumptive Democratic nominee. And I'm incredibly honored by the support I've received from you all," Biden wrote in an email to supporters.
Biden alluded to the difficult month that included massive protests nationwide after the death of George Floyd in Minneapolis and the coronavirus pandemic's climbing death toll.
"These last few weeks have shown that we are a nation furious at injustice. We feel it in our bones; we see it in our streets," Biden said in the email acknowledging the unrest.
This cash haul comes as the Biden campaign has furiously playing fundraising catch-up with President Trump's campaign's powerhouse fundraising. In April, the Biden campaign announced it and the DNC raised a combined $60.5 million, just behind the $61.7 million Mr. Trump and the RNC brought in that month. But the incumbent president maintained about a $100 million cash-on-hand advantage that month.
At the end of April, the Biden campaign announced a joint fundraising agreement with the DNC. It later expanded that agreement to include 26 state parties as well in mid-May. As a result, donors could give a maximum $620,600 to the Biden Victory Fund.
"Just a few months ago, people were ready to write this campaign off. Now, we are making huge dents in Donald Trump's war chest. Every single dollar is going to make sure he is only a one-term president," Biden wrote in Monday's email. "Let's keep up that pressure."
As the Biden campaign is raking in more cash, it has likely been able to save a substantial sum of money on campaign events due to the virtual nature of the cycle as of now due to the coronavirus pandemic. In May, the Biden campaign held more than a dozen big fundraisers virtually.
While some big donors told CBS News they missed the in-person events, they praised the campaign's ability to adapt, reach more contributors and save on the planning and travel. Several of the May virtual fundraisers brought in more than $1 million apiece, including one with California Governor Gavin Newsom that raised $2.7 million for the joint fundraising committee.
In May, Biden only ventured out in public mainly for smaller events that kept him close to his Delaware home. While it remains unclear how much was spent by the campaign last month in total, in April, the campaign's burn rate was only about 27%.
At the same time, the Trump campaign has been spending money over the past three months on television ads, including in battleground states. The Biden campaign, however, has spent nothing on television since mid-March, instead investing in digital advertising and fundraising efforts.
Mr. Trump's campaign has not yet announced its cash haul for May. On Monday, Trump's campaign manager Brad Parscale tweeted that the campaign had its single biggest online fundraising day ever the day before, by bringing in $14 million to mark the president's birthday. That sum will show up in the second quarter totals.
