Trump eyes spending $100M of his own money in reelection bid: report
President Trump has discussed spending up to $100 million dollars of his personal wealth on his reelection campaign against Democratic presidential nominee Joe Biden, Bloomberg News reported.
The president has addressed the idea with multiple advisers, according to the news outlet, which cited people familiar with the matter. Trump contributed $66 million to his 2016 campaign.
Trump’s campaign and the Republican National Committee (RNC) have spent more than $800 million on the president’s reelection bid. Biden and the Democratic National Committee (DNC) have spent approximately $414 million through July.
An incumbent president contributing personal funds toward a reelection campaign would be unprecedented, Bloomberg News noted, adding that Trump’s aides have not agreed on the move. The Trump campaign is set to have twice as much cash as it did in 2016, it added.
Biden and the DNC in August raised nearly $365 million in August, breaking a one-month fundraising record of $193 million set by former President Obama in 2008. Trump and the RNC have not released last month’s fundraising efforts.
Trump had between $46.7 million and $156.5 million in savings, checking and other accounts at the end of 2019, according to a financial disclosure. He also listed 20 assets that are worth more than $50 million.
The New York Times reported Monday that some individuals within the president’s campaign have feared “a cash crunch” with less than two months before the election.
“President Trump’s fundraising is breaking records and we are paying close attention to the budget, allowing us to invest twice as much from now until Election Day than we did in 2016,” Tim Murtaugh, a Trump campaign spokesman, told Bloomberg News. “President Trump has also built the world’s greatest digital fundraising operation, a dominant ground game, and a third advantage Joe Biden can never match — enthusiasm.”
The Hill has reached out to the Trump campaign for comment.