Paul raises $1M after launch
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Sen. Rand PaulRandal (Rand) Howard PaulSchumer’s headaches to multiply in next Congress GOP pollster says Republicans could break with Trump on Saudi Arabia Overnight Defense: Trump says 15,000 troops could deploy to border | Mattis insists deployment is not 'stunt' | Pompeo calls for Yemen peace talks in November MORE (R-Ky.) has raised $1 million in donations through his website to a day after officially launching his presidential campaign.

The ticker on Paul's site passed the seven-figure mark around 3:45 p.m. EST on Wednesday, with the default donation starting at $20.16. 

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Before reaching the threshold, Paul sought to reassure potential donors that the money would be well spent, appearing in front of a McDonald's while in New Hampshire. 

"We're eating at the Dollar Menu at McDonald's to make sure your money is spent wisely," Paul said in a video posted to his Facebook page.

Sen. Ted Cruz (R-Texas), the first major candidate to declare his presidential bid, last month touted raising $1 million in the first 36 hours following his campaign launch, with $4 million the first week. ON Wednesday, Cruz's super-PACs said they expected to haul in $31 million over a week.

Retired neurosurgeon Ben Carson's exploratory committee has also said it brought in more than $2 million in less than a month.

Other potential 2016 Republican presidential contenders are also focused on fundraising, including former Florida Gov. Jeb Bush.

Paul's "money bomb" this week, which coincided with his presidential campaign launch, was meant to mobilize grassroots supporters to give en masse through his site.

Small-dollar fundraising for Paul has accelerated since his 2010 Senate race, according to The New York Times. It reported that his leadership PAC raised $2.4 million in donations of less than $200 during the 2014 cycle, compared to just over $704,000 in higher amounts.

Paul's political adviser, Doug Stafford, said last week on conservative radio host Hugh Hewitt's show that Republican candidates would need to rake in $50 million by March 2016, adding he thought Paul could reach that mark if he tried.