Berlin. Money wins the US election? At least it plays a crucial role in the election campaign. And one candidate is financially ahead.
You can’t buy votes. But you can influence voters, for example with campaign spots, impressive appearances, poster and social media campaigns, campaign trips and a large staff. All of this costs a lot of money – so much so that hardly any candidate can pay for it out of their own pocket. Sometimes the candidates for president give… Election campaign several hundred million dollars. The US election campaign is more expensive than any other in the world.
Capital Inside by Jörg Quoos, editor-in-chief of the FUNKE central editorial team
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So Donald Trump and Kamala Harris are up Donate instructed. And they can count on many small donors as well as billionaire private individuals, companies, NGOs and unions. A lot of money flows transparently and is disclosed by the candidates’ committees. There are also hidden campaign donations.
US election 2024: Who raised how much money and where did it come from?
Donald Trump primarily benefits from super-rich individuals. The multi-billionaire Timothy Mellon, for example, has Trump and donated more than $115 million to Republicans through September alone. Hedge fund manager Kenneth C. Griffin donated more than $75 million. Logistics entrepreneurs Richard and Elizabeth Uihlein donated almost $72 million. In contrast to these huge donations, the individual donations to Kamala Harris are manageable. The largest open donation for Harris and the Democrats comes from entrepreneur and LinkedIn co-founder Reid Hoffman, almost $29 million.
| The ten largest individual donors to the 2024 US election * | |
|---|---|
* Stand 2.9.2024,Quelle: Statista Research Department
According to the latest media reports, Elon Musk is also said to have donated around $75 million to Trump. If this is confirmed, he would move into the top 3. But even if Trump does a little better with America’s super-rich, Harris Overall, more donations were collected. According to the Federal Campaign Finance Administration, the Harris campaign received more than $697 million in donations as of October 15. According to a report by NBC News, the donation amount in October is said to have exceeded the billion mark.
US election 2024: Kamala Harris collected significantly more money during the election campaign than Donald Trump. © DPA Images | Ross D Franklin
Donald Trump’s campaign had raised almost $480 million by mid-October. Until Joe Biden’s exit, the two campaigns were roughly on par. But when Harris took over the Democratic nomination, the money really started flowing. A part of her revenue The candidates have already spent money on the election campaign, but the majority will be spent in the remaining two and a half weeks before the election.
- Editions Harris: $442.7 million *
- Spending Trump: $174.6 million *
* According to information from the election campaign committees, as of August 31, 2024
US election 2024: Some money flows in secret
In addition to the donations for the presidential candidates, money is also flowing for the Senate and general elections taking place at the same time. Overall, the election campaign will cost several billion dollars. In 2020, the total was Campaign costs to almost 14 billion dollars. This year this total could be topped.
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The immense costs are a direct result of US campaign finance laws. As is common in other countries, only direct donations to candidates are subject to strict limits and transparency requirements. However, the millions in donations from the super-rich and companies take a detour: Since 2010, political action committees (PACs) and super-political action committees (super-PACs) have also been allowed in the USA to Donation money to collect. Ultimately, these are organizations that are close to a candidate and campaign on their own.
Super PACs, for example, are allowed to use what they collect Money don’t pass it on directly to the candidates or coordinate strategically with them, but they are not subject to any donation limits. Expensive television advertising is usually financed by them. The money from major donors flows to the PACs or super PACs and from there into the election campaign – and not all of them are disclosed.
