(HorizonPost.com) – Joe Biden’s reelection campaign is relying heavily on big-money donors while small-dollar donors have yet to materialize, the New York Times reported last week.
Based on the campaign’s second-quarter filing with the Federal Elections Commission, Biden’s campaign haul during the previous quarter was fueled largely by ten donors who gave $500,000 or more to the campaign’s joint fundraising vehicle the Biden Victory Fund and another 82 donors who each contributed at least $100,000.
Among the ten deep-pocketed donors is the co-chair of the Biden Victory Fund, Hollywood producer Jeffrey Katzenberg.
According to Newsmax, Katzenberg and his wife donated over $1.7 million to the Biden Victory Fund in the second quarter.
In late April, just two days after her husband became Biden Victory Fund co-chair, Marilyn Katzenberg gave $889,600 to the fundraising arm. The following day, Katzenberg matched his wife’s donation.
Meanwhile, as the Biden Victory Fund rakes in the cash from deep-pocketed donors, the small-dollar donors that helped Joe Biden smash fundraising records in 2020 appear to have dried up.
According to the New York Times, in the second quarter of 2023, the Biden campaign and the Biden Victory Fund brought in a paltry $10.2 million from small donors.
By comparison, in the second quarter of 2011, Barack Obama’s reelection campaign raised $21 million from small-dollar donors.
Small-dollar donors are the supporters who contribute $200 or less.
According to the New York Times, Democrats on the campaign say the lack of small donors stems from the problems with email fundraising drives now that Apple and Google have made it more difficult for the campaign to see who opened emailed solicitations.
Democrats also suggest that Joe Biden is not the kind of insurgent candidate that fires up voters, especially young voters, depriving the campaign of supporters eager to “rage-donate” to his reelection campaign.
Jeffrey Katzenberg told the New York Times that without a “day-to-day competition combat” right now, the most loyal, dedicated supporters aren’t motivated to get engaged. Katzenberg added that this is likely to change “over time.”
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