Former Vice President Biden Raised Over Three Times More Donations Than Trump Last Month

[Asia Economy Reporter Naju-seok] Former Vice President Joe Biden, who has been virtually confirmed as the Democratic presidential candidate in the United States, has raised three times more campaign contributions than President Donald Trump.

According to foreign media on the 20th (local time), former Vice President Biden raised $46.7 million (57.6 billion KRW) in campaign contributions last month. This is three times the $13.6 million raised by President Trump last month.

[Image source=AP Yonhap News]

Seventy percent of former Vice President Biden's campaign fundraising was conducted online, and the average donation amount was $40, which is considered a small contribution, making it encouraging.

Previously, former Vice President Biden raised $8.9 million in January and $18 million in February. After consecutive victories in key electoral districts, he secured the largest number of delegates, which also helped raise campaign funds. As a result, Senator Bernie Sanders, who was a competitor, declared the suspension of his campaign and endorsed former Vice President Biden. Moreover, former President Barack Obama officially expressed his support for Biden.

Although the increase in campaign contributions is encouraging, there are significant concerns ahead of the November presidential election this year. The Republican Party, which holds the incumbent president they must face, has already secured a large amount of campaign funds, whereas former Vice President Biden must start raising campaign funds from now on. Furthermore, due to the spread of the novel coronavirus disease (COVID-19) in the United States, prospects for fundraising are not expected to be favorable. Predictions have already emerged that April's contributions will be less than those in March.

In addition, the Democratic National Convention, which finalizes the Democratic presidential candidate, has been postponed due to COVID-19, making it difficult to utilize Democratic campaign funds. For this reason, despite being virtually confirmed as the Democratic presidential candidate, analyses suggest that the campaign funding situation remains challenging.

For now, former Vice President Biden is responding by holding virtual fundraisers to secure contributions while also requesting support from grassroots supporters.

This content was produced with the assistance of AI translation services.