Where Joe Biden and Donald Trump are getting their campaign funds

With the race for president down to two candidates, donors have a clearer picture of where to put their money. File Photo by Bonnie Cash/UPI
With the race for president down to two candidates, donors have a clearer picture of where to put their money. File Photo by Bonnie Cash/UPI
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March 20 (UPI) -- With the field for the November presidential election narrowed to a rematch of 2020 between Democratic President Joe Biden and former President Donald Trump for the Republicans, campaign donors have a clearer picture of where to put their money.

Former U.N. Ambassador Nikki Haley left the race after Super Tuesday primaries, leaving her donors to look for a new candidate. But it is not a foregone conclusion that they will continue to spend on the Republican ticket.

"Some may withhold, not going to give to anybody. Some may go to factions of people who don't like Trump and who want to hurt his candidacy," J. Edwin Benton, politics professor at the University of South Florida and author of Government and Politics, told UPI.

"Some of it is going to trickle that way -- toward Republicans in Congress. Those who still have reservations about his behavior, conduct or mentality may not give to anyone."

Here is a look at where the money has come from so far to fund Biden and Trump -- and how they are spending it -- as well as who was funding the Haley campaign. The figures were reported to the Federal Elections Commission by the end of January, cumulative from November 2022.

The largest contributor to President Joe Biden's re-election campaign is the Biden Victory Fund, a joint fundraising committee. Photo by Al Drago/UPI
The largest contributor to President Joe Biden's re-election campaign is the Biden Victory Fund, a joint fundraising committee. Photo by Al Drago/UPI

Biden

Biden's campaign has received $89.7 million, including more than $26 million in individual contributions. Its largest contributor is the Biden Victory Fund, a joint fundraising committee that has given more than $65.3 million to the campaign.

Donald Trump's re-election campaign has received nearly 1.4 million donations of $300 or less, including 511,000 of $5 or less. Photo by Bonnie Cash/UPI
Donald Trump's re-election campaign has received nearly 1.4 million donations of $300 or less, including 511,000 of $5 or less. Photo by Bonnie Cash/UPI

The fund has received about $159.6 million, with $157.7 million in total contributions. Infinex Financial Group, an independent securities trading institution, has contributed about $1.4 million to the committee. It is one of the political action committee's largest donors.

Famed film director Steven Spielberg and his wife, actress Kate Capshaw, are among the biggest individual donors to the Biden Victory Fund, contributing a combined $1.8 million.

Former U.N. Ambassador Nikki Haley left the 2024 presidential race after Super Tuesday primaries, leaving her donors to look for a new candidate. Photo by Bonnie Cash/UPI
Former U.N. Ambassador Nikki Haley left the 2024 presidential race after Super Tuesday primaries, leaving her donors to look for a new candidate. Photo by Bonnie Cash/UPI

Biden has received 22 donations of $10,000 or more. Eight of those contributions from the Biden Victory Fund and three from the Biden Action Fund.

Nearly 18,000 donations to Biden have been of $1,000 or more.

The Biden campaign's largest expenses have been for media buys and production, which includes ads across multiple channels. It also disbursed more than $2 million to Action Squared for text message outreach. It spent about $800,000 on legal services.

Trump

The Donald J. Trump For President 2024 PAC received more than $50 million from the Trump Save America Joint Fundraising Committee in 2023. That committee's largest source of funding was WinRed, a Republican Party fundraising platform. WinRed made more than 200 contributions to the committee last year.

WinRed received $431.1 million in 2023, including $415.6 million in individual contributions. Its largest contributors gave hundreds of thousands of dollars. Some are earmarked for specific purposes.

Craig Duchossois' more than $700,000 contribution was earmarked for the Protect the House 2024 committee started by former House Speaker Kevin McCarthy. Duchossois is the executive chair of a private investment firm The Duchossois Group.

While WinRed was the biggest contributor to the Trump Save America committee, the committee also contributed nearly $200,000 to WinRed.

WinRed also contributed significantly to Trump's primary opponent, Haley. It made more than 300 donations to Haley in 2023 and another 800 to Team Stand For America, a PAC that sponsored Haley. Those 800 donations ranged between $5,000 and $159,000 each.

The Trump campaign received $79.6 million through the end of the year, including $508,898.56 in total contributions.

The campaign has received nearly 1.4 million donations of $300 or less, including 511,000 of $5 or less. It is important to note some people donate to a campaign multiple times.

Trump has received 44 donations of $10,000 or more and less than 3,000 donations of $1,000 or more.

The campaign spent about $46.5 million in 2023. This includes more than $8.7 million in ad spending and $3.7 million in legal consulting.

The Trump Save America PAC, a leadership PAC that was founded in 2020 after the election, spent more than $50 million to pay Trump's legal fees in multiple cases in 2020. Trump faces four criminal cases, was found liable for sexually assaulting and defaming writer E. Jean Carroll and has been ordered to pay a $464 million judgment for committing fraud in New York.

The judgments in Trump's civil financial fraud case and in the latest case from Carroll came down earlier this year.

According to the FEC, campaign funds of federal candidates can be used for legal expenses related to campaign or "officeholder" activity. If the expense or financial obligation would exist regardless of the person's candidacy, it is considered personal use. Personal use of campaign funds is prohibited.

The FEC declined to comment on specific situations.

Haley

Haley, who suspended her campaign after winning only two primaries as of Super Tuesday, received more than $38.6 million in contributions. Team Stand For America gave about $7.16 million. Her campaign also received more than 800 contributions of $10,000 or more.

One of Haley's most high-profile endorsements came from the Americans for Prosperity Action, founded by Charles Koch and the late David Koch. Within weeks of Super Tuesday, the PAC stopped putting funding into Haley's campaign.

Americans for Prosperity Action did not contribute to Trump's previous two presidential campaigns.

Haley's campaign received 302,204 donations of $300 or less and 64,084 of $5 or less. She also drew 280 donations of $10,000 or more and 9,760 donations of $1,000, or more.

Benton, who splits his time between homes in Florida and South Carolina, said he was surprised to see Haley suspend her campaign. Even so, she came in second in Tuesday's Republican primary in Florida -- ahead of Gov. Ron DeSantis, who had also dropped out of the race.

It remains to be seen how many of Haley's supporters -- and their votes or donors -- will coalesce behind Trump.

"She's leaving her options open. Whether she endorses him or not, some of that money is going to go to Trump," Benton said.