Biden suggests he has raised nearly $20 million for presidential bid

Biden suggests he has raised nearly $20 million for presidential bid
© Aaron Schwartz

Former Vice President Joe BidenJoe Biden2020 Democrats react to 'send her back' chants at Trump rally Can Biden's canceled cancer initiative be salvaged? Biden's health care gaffe shows he's not ready for prime time MORE suggested at a fundraiser on Monday that he has brought in nearly $20 million for his presidential bid, the most substantial fundraising haul disclosed by any Democratic presidential candidate this cycle.

Biden told supporters at a fundraiser at the Manhattan home of hedge fund manager Jim Chanos that he had collected contributions from 360,000 donors with an average contribution size of $55. That amounts to about $19.8 million.

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By comparison, Sen. Bernie SandersBernie Sanders2020 Democrats react to 'send her back' chants at Trump rally Cardi B posts message of support for Ilhan Omar #IStandWithIlhan trends after crowd at Trump rally chants 'send her back' MORE (I-Vt.) reported raising $18.2 million in the first quarter of 2019, before Biden entered the race. Sen. Kamala HarrisKamala Devi Harris2020 Democrats react to 'send her back' chants at Trump rally Biden's health care gaffe shows he's not ready for prime time The Hill's Morning Report - Trump seizes House impeachment vote to rally GOP MORE (D-Calif.) reported a $12 million haul in the same time period.

Campaigns have until July 15 to report their fundraising totals for the second quarter of the year, which covers the period between April 1 and June 30.

Biden has proven himself to be among the most adept fundraisers in the Democratic primary contest. His campaign announced in April that he had raked in $6.3 million in 24 hours after he launched his White House bid, and major Democratic donors and fundraisers expect him to raise as much as $25 million in the second quarter.

At Monday's $2,800-per-person fundraiser, Biden said his donors have “allowed me to be able to compete in a way that I’ve never been able to before” and that his campaign had “raised a great deal of money.”

Biden’s claim that he has collected contributions from 360,000 donors suggests he will easily qualify for the third Democratic presidential debate in September.

The Democratic National Committee announced late last month that, in order to make the debate stage this fall, candidates will have to notch at least 2 percent in three polls and amass support from 130,000 unique donors. Biden, the current front-runner, has already exceeded the polling threshold.

Other Democratic candidates are expected to report impressive fundraising hauls. South Bend, Ind., Mayor Pete ButtigiegPeter (Pete) Paul ButtigiegThe Hill's Morning Report - Trump seizes House impeachment vote to rally GOP 2020 Democrats adapt to changing social media landscape Trump blasts 2020 Dems during campaign rally MORE reportedly raised $7 million in April alone. And Sanders has frequently touted the strength of his army of small-dollar donors while holding larger, in-person fundraisers. He has also hired someone to handle fundraising for his campaign, a departure from his 2016 presidential bid, when he eschewed such hires.