2024 Election Spending And Funding: Who Spent The Most In Q2 And Has The Most Funds

Across the Democratic and Republican parties, there are more than a dozen candidates vying for their party’s nomination for the 2024 presidential election.

As the primary season begins to heat up, candidates are spending millions of dollars on advertising and campaigning to get their names and messages out in front of potential voters.

Here’s a look at the second quarter campaign finances for major presidential candidates.

Republican Candidates: The Republican party has seen former president Donald Trump dominate most polls, with a 35-point lead in the latest Morning Consult poll.

Here’s a look at the spending by Republican candidates based on public fundraising filings, as reported by the New York Post.

Donald Trump:
Q2 Fundraising: $17.7 million
Q2 Spend: $9.1 million, 51% burn rate
Remaining Funding: $22.5 million
Ron DeSantis:
Q2 Fundraising: $20.1 million
Q2 Spend: $7.9 million, 39% burn rate
Remaining Funding: $12.2 million
Mike Pence:
Q2 Fundraising: $1.2 million
Q2 Spend: $0.07 million, 6% burn rate
Remaining Funding: $1.1 million
Vivek Ramaswamy:
Q2 Fundraising: $7.7 million
Q2 Spend: $8.1 million, 105% burn rate
Remaining Funding: $9 million
Nikki Haley:
Q2 Fundraising: $5.3 million
Q2 Spend: $2.6 million
Remaining Funding: $6.8 million
Tim Scott:
Q2 Fundraising: $5.9 million
Q2 Spend: $6.7 million, 114% burn rate
Remaining Funding: $$21.1 million
Chris Christie:
Q2 Fundraising: $1.7 million
Q2 Spend: $0.7 million, 4% burn rate
Remaining Funding: $1.6 million

Democratic Candidates: Among the leading Democratic candidates, President Joe Biden has been a fund-raiser and has a big chest of reserves at the ready.

Joe Biden:
Q2 Fundraising: $19.9 million
Q2 Spend: $1.1 million, 6% burn rate
Remaining Funding: $20.1 million
Robert F. Kennedy Jr.:
Q2 Fundraising: $6.4 million
Q2 Spend: $1.8 million, 28% burn rate
Remaining Funding: $4.5 million
Marianne Williamson:
Q2 Fundraising: $0.9 million
Q2 Spend: $1.1 million, 122% burn rate
Remaining Funding: $0.1 million

Related Link: Biden Increases Lead Over Trump And DeSantis In Latest Head-To-Head Poll

Why It’s Important: Campaign finances show who’s raising the greatest amount of cash and spending the most. Several candidates (Scott, Ramaswamy, Williamson) had cash burn rates of over 100%, meaning they spent more than they raised in the second quarter.

Of the three, Scott has one of the largest remaining campaign chests with $21.1 million in remaining funds. Scott’s funds rank second only to Trump, and come in ahead of Biden.

The financials also show that several candidates seen as potential strong GOP candidates like Christie and Pence spent less than $1 million in the second quarter.

Campaign financials could be key in seeing which candidates are likely to drop out of the race early. Heavy spending in a quarter is often seen as a move to boost one’s standing in the poll results.

Ramaswamy spent heavily in the second quarter and saw his results go up in the Morning Consult poll.

Heavy spending or high cash burn rates by candidates that don’t see a rise in the poll can often foreshadow and early exit before debates, primaries or after the first primary happens.

Read Next: Ron DeSantis Campaign Lets Go Of Staff Amid Heavy Spending

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