For incumbent Presidents seeking a second term, it is essential to raise significant funds for ads and campaign expenses. When Barack Obama ran for reelection in 2012, he and his team set a fundraising goal of $1 billion.
Donald Trump announced his 2020 bid very early and he is facing little to no competition from other Republican candidates. According to a report from Vanity Fair, though, the Trump campaign is concerned with their current fundraising numbers.
Gabriel Sherman writes, “Trump’s son Don Jr. has privately warned donors that Trump only raised around $30 million in the last quarter, and pointed out that the number fell far short of the roughly $45 million Barack Obama raised in the second quarter of 2011 for his 2012 re-election bid.”
There are a number of reasons given for the cash shortfall. Trump reportedly does not do well when raising money from those in high finance. A Trump donor said, “Wall Street never liked Trump from the beginning. Goldman is filled with people who were Obama fund-raisers.”
The current administration has allegedly been slow to return favors. Another donor told Vanity Fair, “There’s no follow-through. Donors are not being taken care of. All these people were supposed to be ambassadors by now, but they’ve been slow-rolled. Trump is furious.”
Lastly, donors may be worried about Trump’s ability to win the 2020 election. Sherman notes, “some donors aren’t stepping up because Trump’s numbers in must-win states like Pennsylvania, Michigan, and Wisconsin continue to disappoint.”
The Trump campaign, at least publicly, says they are not concerned about the numbers. According to campaign communications director, Tim Murtaugh, “We have a very robust high-dollar effort led by Todd Ricketts at the RNC.”
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Todd Neikirk is a New Jersey-based politics and technology writer. His work has been featured in psfk.com, foxsports.com, and PoliticusUSA. An avid pet lover, he has been known to contribute to Pet Lifestyles Magazine. He enjoys sports, politics, technology, and spending time at the shore with his family.