(NewsNation) — Throughout the 2024 election campaign, current President Joe Biden’s team has had a distinct cash advantage over his Republican opponent and predecessor, Donald Trump.
This appears to have changed, though, as the former president’s campaign reportedly brought in $141 million during the month of May, far outpacing Biden’s $85 million.
The latest boost for Trump comes after his 34-count felony conviction on charges that he falsified business records. His campaign says $53 million in donations came in within 24 hours of the guilty verdict being reached.
For Biden, most of the money, according to his campaign, comes from grassroots donors, with another $30 million coming in from a star-studded fundraiser last week.
May marks the second month in a row that Trump has outraised Biden. This is significant, as more money equals more TV ads and airtime, more offices and outreach and more staff and organizing.
Overall, Biden entered June with $212 million cash on hand. Trump’s campaign hasn’t reported a similar figure, as it isn’t legally required to do so until July.
Looming over both candidates now is the first presidential debate, hosted by CNN and scheduled for June 27. Biden is prepping at Camp David in Maryland with his closest advisers. Meanwhile, Trump is having more fundraisers, including one in Ohio Thursday night and one set for Monday in New Orleans.
Meanwhile, independent candidate Robert F. Kennedy did not qualify for the debate stage per CNN’s requirements.
Per Federal Elections Committee records, Kennedy raised $2.6 million in May and has $6.4 million in cash on hand — significantly lower figures than he’s seen in past months.