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Biden raises record $383 million in September

Yahoo Finance’s Kristin Myers joins Zack Guzman break down the latest 2020 election fundrasing numbers.

Video Transcript

ZACK GUZMAN: --chat. Some interesting new fundraising numbers coming in as we approach the election. In Q3, Democratic presidential nominee Joe Biden posting record-breaking numbers. And for more on that, I want to get to Yahoo Finance's Kristin Myers, who has the details. Kristin?

KRISTIN MYERS: Hey, Zack. Yeah, so Joe Biden bringing in a record haul for September, $383 million for the month, Zack. That actually blows out his previous record, which was from the month prior-- so the month of August, when he brought in $364.5 million. He announced that last night in a video that he posted on Twitter.

Now, he did share that around 5.5 million donors gave on average roughly $44-- so really showing here how many people are really supporting the former vice president in his bid for the White House. Now, his campaign then went on to say that right now he has $432 million cash on hand. We talk about those cash-on-hand numbers, because that's the money that you use to pay your staff. That's the money that you use to put out those ads on Facebook, on TV, on Twitter-- anywhere that you can. So those cash-on-hand numbers are incredibly important.

Now, I need to contrast that to what we're seeing from the Trump campaign. We don't yet have the September fundraising numbers for Donald Trump. Now, we have talked about this many, many, many times. Donald Trump usually is by and away the largest fundraising candidate. And it now seems that Joe Biden is completely overtaking that lead.

So for contrast, I will give you some of his August numbers. He pulled in only $210 million. Remember, I said Joe Biden brought in $364.5 million. And by the end of September-- or excuse me, by the beginning of September-- so the end of August-- he only had $121 million cash on hand.

So unless he has not spent any money and raised well over $300 million, Joe Biden has way more cash on hand right now than the president. So what we're seeing here, Zack, is that Democrats really are putting their money behind their candidates. ActBlue-- that's that Democratic fundraising platform-- revealed just a couple of moments ago that in Q3-- so that's all the way through to the end of September-- they raised $1.5 billion, Zack.

And that's almost as much as ActBlue brought in for the entire 2018 cycle. So as we are seeing here, Democrats not slowing down, putting all their money behind Joe Biden and other Democratic candidates that are going to be up for re-election in November.

Zack, I think you're muted right now.

ZACK GUZMAN: You know what? It looks like I was, Kristin Myers. You know, the other interesting thing playing out here as we talk about a blue wave has been the Senate races as well. Senator Lindsey Graham in South Carolina has been pleading on almost all of his media appearances for people to donate to his campaign. And he's trailing his Democratic competitor there in that state. So talk to me about the discrepancy in that key Senate race as well.

KRISTIN MYERS: Yeah, Senator Lindsey Graham really needs to get out there on his hands and knees and start shaking a cup, because right now Jamie Harrison, as you mentioned, challenging him in South Carolina, blowing him out of the water in that race. I'll give you those numbers. So he raised $28 million. That's from July through September.

Now, that is a record. I do need to point that out. That is a record for Republican Senate candidates in any quarter. However, that $28 million? Less than half of what Jamie Harrison brought in. He brought in $56 million. Right now, that is a race right now that is really neck and neck right now. Jamie Harrison has actually surged in the polls, up behind Lindsey Graham.

So the two-- everyone will be watching that race right now. I don't think-- it's classified as a toss-up race. And so this money is definitely going to be helping Jamie as he tries to essentially knock Lindsey Graham out of the Senate.