Kamala Harris' campaign raises more than double the money than Trump

Vice President Kamala Harris' presidential campaign reports to have racked up a whopping $310 million, more than double the money raised by the Republicans last month. This shows how transformative and energizing the presidential candidate change has been for the Democrats, particularly among grassroots and high-dollar supporters. A majority of the $310 million, more than $200 million, was raised in the first week of Harris' candidacy, two-thirds of the fundraising came from first-time donors to the campaign.

On July 21, President Joe Biden announced he was dropping out of the presidential race and swiftly endorsed Harris. She gained big support to delegate endorsements and win the nomination. Prior to Biden's decision, Democratic donors had expressed deep concern about the president's viability. Big checks were held down, and the fundraisers stood down on planned fundraising events.

Presidential candidate Donald Trump's campaign managed to raise $138.7 million in July and has $327 million cash on hand. This makes the numbers of Harris really remarkable. As said, she raised $310 million and has $377 million cash on hand.

The campaign highlights some key demographic trends that it saw in July donations. Compared to June, more than 10 times the number of Gen Z donors contributed, as well as 8 times more millennial donors. 60% of the donors are women.

"These are unprecedented amounts to be raising in such a short timeframe," Brendan Glavin - deputy research director at OpenSecrets, which tracks political money - said of the $200 million Harris raised in the first week of her candidacy. But, he added, "the campaign will have to maintain momentum and convince donors to keep giving throughout the fall, when fundraising is traditionally at its peak."