President Joe Biden and the Democratic National Committee raised $85 million in May 2024, a strong showing despite no major events, as grassroots enthusiasm soared and Biden's campaign emphasized its formidable outreach efforts.

This impressive haul represents Biden's second-best fundraising month to date and signifies growing grassroots support as his campaign gears up for the 2024 election. Meanwhile, former President Donald Trump and the Republican National Committee, buoyed by a historic guilty verdict in Trump's Manhattan hush money trial, outpaced Biden's efforts with $141 million raised in May. Nevertheless, Biden's campaign remains financially competitive, boasting $212 million in cash on hand and a strong grassroots base.

Biden's notable May fundraising achievement was accomplished without the boost of major fundraisers or events, signaling the potential impact of grassroots contributions and smaller donations. The campaign highlighted the millions of new supporters who contributed to the $85 million raised, emphasizing the importance of the wide base of grassroots enthusiasm.

Biden's campaign managed to secure a significant cash-on-hand advantage by the end of the month. The Biden re-election effort reported $212 million available, a robust financial position as the election approaches.

Trump's fundraising success in May was significantly influenced by a momentous guilty verdict in his Manhattan hush money trial. The verdict, which was delivered on May 30, 2024, led to an extraordinary influx of donations amounting to $53 million within just 24 hours, highlighting the intense support among Trump's base.

In contrast, Biden's campaign focused on building a substantial grassroots network, enabling the hiring of their 1,000th staffer in May. The emphasis on grassroots outreach and get-out-the-vote efforts were highlighted as key strategies in the campaign’s approach, demonstrating a methodical buildup of campaign infrastructure.

The competition for campaign funds between Biden and Trump has been vigorous and reflective of their differing strategies. In April 2024, Biden and the Democratic National Committee were outpaced by Trump's campaign, raising $51 million compared to Trump's $76 million, a significant portion of which came from a $50.5 million event hosted by billionaire investor John Paulson in Palm Beach, Florida.

Despite the fluctuation in monthly fundraising achievements, Biden has maintained a cash-on-hand advantage. At the end of March 2024, Biden's campaign reported having $146 million compared to Trump's $88 million, indicating a steady accumulation of resources over time.

Trump's May fundraising also saw a notable influx of new supporters, with 25% of the donations coming from first-time contributors. This influx of new donors indicates a growing base willing to financially support Trump's campaign in the wake of his legal challenges.

While Trump's legal battles appear to galvanize his fundraising efforts, Biden's campaign continues to underscore its grassroots-driven approach. The $85 million raised in May showcases significant public backing and reflects the campaign's ongoing efforts to mobilize a broad, enthusiastic electorate.

As both campaigns move deeper into the 2024 election cycle, the financial competition and support from their respective bases will be vital in shaping their strategies and outreach efforts. Biden's campaign emphasized growth in grassroots enthusiasm and fundraising, with millions of new supporters in May 2024, despite the financial gains achieved by Trump amid his high-profile legal proceedings.