US Presidential Election 2024: Can Kamala Harris’s $5 mn daily outlay secure her win against Donald Trump?

Kamala Harris, the Democratic presidential nominee, is significantly outspending her Republican opponent and former President Donald Trump by close to $5 million per day, according to recent federal filings.

In August, Harris' campaign expenditure averaged $7.5 million daily, compared to Trump’s $2.6 million per day, as reported by Bloomberg. The increase in funds for Harris' campaign coincided with her entry into the presidential race due to concerns about President Joe Biden’s health and performance.

Key donors such as Facebook co-founder Dustin Moskovitz, LinkedIn CEO Reid Hoffman, and Oaktree Capital chairman Bruce Karsh have backed Harris financially. Federal Election Commission (FEC) records indicate that her campaign and the Democratic Party raised $361 million in August, resulting in a total of $404 million available for the critical months leading up to the November election.


In the same period, Trump’s campaign raised $130 million, supported by figures like Blackstone CEO Stephen Schwarzman and businessman Timothy Mellon. Additionally, the Make America Great Again (MAGA) PAC contributed $25 million, leaving Trump with $295 million by the end of August.

Harris' financial resources have allowed her to lead in television advertising, but she continues to avoid high-profile interviews, according to reports from the New York Post.

Tesla founder Elon Musk made a considerable donation of $289,100 to Republican efforts and endorsed Trump, aiming to secure congressional seats, as shown by FEC filings.

Trump has indicated that if he loses the upcoming presidential election on November 5, he might not run again in 2028. “I think… that will be it,” he said.