Jeb Bush’s campaign team is setting ambitious early fundraising goals as it seeks to raise the hundreds of millions it would need to propel the former Florida governor through the Republican primaries and general election.

BloombergPolitics reported on Friday that Bush will seek to raise $100 million in the first quarter alone, including a whopping $25 million from donors in his home state.


The report says Bush’s goal isn’t just to beef up his bank account, but also to intimidate his GOP rivals and potentially keep some of those with presidential ambitions on the sidelines in 2016.

Sen. Marco RubioMarco Antonio RubioGOP votes in unison against COVID-19 relief bill Hillicon Valley: YouTube to restore Trump's account | House-passed election bill takes aim at foreign interference | Senators introduce legislation to create international tech partnerships Senators introduce bill creating technology partnerships to compete with China MORE (R-Fla.) has said Bush’s candidacy won’t weigh on his own, and he continues to speak confidently about his chances to win the Republican primaries and the general election.

But Rubio and Bush share many of the same donors, and strategists say those donors will line up with Bush over Rubio. If Bush can pull $25 million from his Florida base before Rubio has even decided whether he’ll run, it could severely hamper Rubio’s fundraising efforts.

Bush’s fundraising could also send a message to establishment candidates, like Gov. Chris Christie (R-N.J.), who are already feeling pressure from Bush’s early entrance in the race to take the plunge.

In the Bloomberg report, a Bush spokesperson denied the fundraising goals.

“These alleged goals are not accurate," Kristy Campbell said. "Governor Bush has not had a political organization until now. He is just in the initial days of reaching out to people and making plans to support conservative causes and conservative candidates in the coming months."

On Tuesday, Bush jump-started the fundraising process when he unveiled his new leadership PAC and super-PAC.