• [stock-market-ticker symbols="AAPL;MSFT;GOOG;HPQ;^SPX;^DJI;LSE:BAG" stockExchange="NYSENasdaq" width"100%" palette="financial-light"]

    Trump Campaign Rakes In The Cash

    July 22, 2020
    No Comments
    Image by Gage Skidmore

    President Trump held a virtual fundraiser, an alternative option in the midst of the Coronavirus pandemic, and it worked.  On Tuesday evening, Trump raised $20 million for his 2020 reelection.  In a single night, Trump trumped Biden’s $11 million from a virtual fundraiser co-hosted by Democratic hero President Obama.  

    This virtual fundraiser was a first for President Trump.  He has been continuously bringing money in, however.  Trump’s campaign raised $10 million at a fundraiser in Hillsboro Beach, Florida in the beginning of July, and $3 million at his golf resort in Bedminster last month.  But while President Trump has been in favor of in-person fundraisers, his virtual one has knocked it out of the park. 

    While reports have been flooding mainstream media outlets that Trump’s campaign is fishtailing, the number raised last night tells a different story.  While Biden has been sticking to virtual fundraisers, Trump’s campaign has now caught on, and will continue to use this type of fundraising up until the November election on top of in-person fundraisers.  

    Why this matters: Fundraising is a crucial part to any presidential campaign.  Given the lockdowns happening nationwide, campaigns have had to pivot to online resources, leaving questions of how this will affect money raised.  As Trump’s campaign has been shaken up, and as they move into the crucial last few months, this rake in of cash will serve as momentum for the entire campaign.  Furthermore, it happened before the convention, which will most likely be another milestone for campaign cash raised.  While some polls show Trump trailing Biden, this number is a clue beyond statistics of how his base feels about reelection. 



    CDM Staff

    The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."
  • Subscribe
    Notify of

    Inline Feedbacks
    View all comments


  • Subscribe to our evening newsletter to stay informed during these challenging times!!