Several major donors to the Democrats have immediately backed Kamala Harris as a presidential candidate after Joe Biden. And a fundraising platform for grassroots donations claims that money has poured in at a rate that makes it the most lucrative day before the election so far.
The platform, Actblue, reports that 46.7 million dollars, around half a billion kronor, had flowed in within just over seven hours after Joe Biden withdrew from the presidential race and gave his full support to his vice president.
A large campaign fund can be the difference between being elected or defeated in the election. Also, major donors, such as LinkedIn founder Reid Hoffman, the Soros family, and several heavyweights around Wall Street, quickly made it clear that they are backing Harris.
"Kamala Harris is the right name at the right time," Hoffman stated, according to Financial Times.
Until this spring, Biden's campaign, which also included Kamala Harris as vice president, was more successful than Donald Trump's campaign in raising money. But that has changed, not least after Joe Biden's poor performance in the TV debate on June 27.
While the Biden-Harris campaign recently reported 91 million dollars in the bank, the total Democratic campaign funds were estimated to be around 240 million. The Trump campaign is believed to have tens of millions of dollars more, in total, collected.
Since Harris has already been part of the campaign, her chances of using the collected funds for her new campaign are considered good. If one or more opponents take the step to challenge Harris, there may be limitations to the collected funds.
