Exclusive-Harris' election effort raises around $500 million in a month, sources say

Democratic presidential candidate and U.S. Vice President Kamala Harris applauds as U.S. President Joe Biden speaks during Day one of the Democratic National Convention (DNC) in Chicago, Illinois, U.S., August 19, 2024. /Mike Segar

CHICAGO - U.S. Vice President Kamala Harris' election effort has raised around $500 million since she became the Democratic presidential candidate, sources told Reuters, an unprecedented money haul that reflects donor enthusiasm going into the Nov. 5 election.

Four sources familiar with the fundraising effort told Reuters that figure had been banked for Harris in the four weeks since she jumped into the race on July 21.

Campaign cash is critical for advertising and get-out-the-vote efforts that help bring people to the polls and persuade undecided voters to swing a candidate's way.

Harris entered the fray after President Joe Biden stepped aside from the top of the Democratic ticket, unleashing floods of funding that had dried up in the weeks after Biden's disastrous debate against Republican Donald Trump.

Harris raised $200 million in the first week of her campaign while she quickly wrapped up support to become the party's nominee.

Harris' team raised $310 million in July, bringing the total amount of money raised by her and Biden before he dropped out to more than $1 billion, the most rapid crossing of that fundraising threshold in history, according to the campaign.

Trump's campaign said it raised $138.7 million in July and had cash on hand of $327 million. The former president's campaign outraised Biden in the second quarter.

Enthusiasm for Harris, whose July cash on hand came in at $377 million, has continued into August, manifested by donations from small-dollar donors as thousands of people show up to her rallies in political swing states across the country.

Biden's campaign committee raised $1.04 billion in the 2020 election cycle or $1.62 billion when combined with outside groups, according to OpenSecrets, a group that tracks money in politics.

Harris lauded Biden on Monday on the first night of the Democratic National Convention in Chicago, where the president, in his own remarks, touted his record and urged voters to back Harris and her running mate, Minnesota Governor Tim Walz, in November.

Former President Barack Obama, who is also a big fundraising draw, addresses the convention on Tuesday night, while Harris rallies voters in nearby Wisconsin.

Obama attended two high-profile fundraisers with Biden and has offered to help Harris with more.

Harris has repeatedly called herself an underdog in the race against Trump, in the hopes of preventing complacency among her voting and donor base.