WASHINGTON — President Donald Trump raised $24.8 million less than 24 hours after kicking off his reelection campaign, a figure that dwarfs what the top Democratic contenders took in over the course of months.
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 Democratic White House candidates have hyped their fundraising pulls in the 24 hours after launching their campaign. Former Vice President Joe Biden reported a $6.3 million haul in the first 24 hours, former Texas Rep. Beto O'Rourke took in $6.1 million and Vermont Sen. Bernie Sanders reported $5.9 million.
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 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 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 during the same period.
The Democratic National Committee, meanwhile, had just $7.5 million with $6.2 million in debt, records show.