President Joe Biden, who is making a second bid for the U.S. presidency this November, raised $42 million (approximately 5.6 billion KRW) in campaign contributions during January. Despite trailing former President Donald Trump, his likely rematch opponent, in various polls, this is attributed to a surge of small-dollar donors aligned with an anti-Trump stance.
According to Biden's campaign committee on the 20th (local time), the funds raised in January reached $42 million. As a result, the total campaign funds secured currently stand at $130 million (approximately 173.5 billion KRW). This is the largest amount raised by any Democratic candidate at this point in the election cycle.
The campaign committee explained that since fundraising began in April last year, the highest influx of small-dollar donors occurred last month. Notably, in the three days following former President Trump's landslide victory at the Republican Iowa caucuses on January 15, Biden's campaign reportedly received small-dollar donations totaling $1 million daily.
Julie Chavez Rodriguez, the campaign manager, stated in a press release, "The January fundraising was entirely driven by grassroots supporters," adding, "This is a very strong start to the year in which the presidential election will be held."
Former President Trump did not officially disclose his fundraising totals for last month. However, major foreign media outlets reported, citing the Federal Election Commission (FEC) financial report submitted by the Trump campaign, that $8.8 million (approximately 1.17 billion KRW) was raised in January. Additionally, the Trump campaign's bank balance as of the end of last month was reported to be $30 million (approximately 4 billion KRW), down more than 9% from $33 million at the end of December last year. However, these figures do not include donations to affiliated organizations.
News of President Biden's fundraising comes amid recent controversies regarding his cognitive abilities due to his advanced age. During his vice presidency, a special counsel report on classified document leaks mentioned concerns about his cognitive function, including statements such as "memory is not good." Biden, the oldest sitting president in U.S. history, is 81 years old this year. An ABC-Ipsos poll released this month showed that 86% of respondents believe Biden is too old to be re-elected.
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