Running for president is a very expensive venture, and that’s something Donald Trump is finding out very quickly as his 2024 campaign kicked off to a lackluster start. In order to stay ahead of the pack (even if you’re the only one in the Republican race right now), you need a lot of money in the coffers — and currently, the former president’s financial situation isn’t so hot.
Donald Trump raised around $9.5 million after announcing his third bid for president in mid-November, according to NBC News, who obtained his fundraising figures. He announced his campaign just after the midterm elections — which might have seemed like a sound strategy — but after a disappointing GOP outcome, it turned out to be bad timing. Now, it’s time for Donald Trump to catch up, especially with other Republican Party contenders likely to enter the race soon.
The former president is considered to be “the king of small-dollar donors” because his supporters may not be high rollers, but they donate what they can frequently. And that’s why Donald Trump’s expected return to Facebook, Instagram, and Twitter will be essential to his campaign. “Almost 50% of Republican donors log in to Facebook every single day,” Republican fundraiser Eric Wilson, who is not working with the former president, told NBC News. “So if you are not able to reach those donors, you’re just at a huge fundraising disadvantage.”
Donald Trump is going to have to make some big moves soon, and with a lukewarm response during his South Carolina and New Hampshire appearances, he has a lot of ground to cover. Once other Republican contenders enter the race, everyone is going to be fighting over those donors for money.
Before you go, click here to see presidential families over the years.
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