President Joe Biden’s 2024 campaign faced a setback in April as its fundraising fell behind that of rival Donald Trump for the first time. This shift occurred after Trump intensified his joint efforts with the Republican National Committee (RNC) and headlined several high-dollar fundraisers.

According to the Biden campaign, they and the Democratic National Committee (DNC) collectively raised over $51 million in April. However, this figure marked a decline from the $90 million raised in March and fell short of the $76 million reported by Donald Trump and the Republican Party for the same month.

Trump’s nomination as the Republican presidential candidate in March enabled him to collaborate with the RNC, which is co-chaired by his daughter-in-law. Notably, Trump’s fundraising efforts received a significant boost in April, notably from a fundraising event held at the Palm Beach, Florida residence of billionaire investor John Paulson. This event yielded a record-setting $50.5 million.

This surge in fundraising was timely for Trump, who has been consistently outpaced by Biden and faces financial constraints due to escalating legal fees and settlements resulting from ongoing legal battles.

In March, the Trump campaign acknowledged its inability to match Biden’s fundraising prowess. However, despite being outraised by Biden, Trump’s fundraising in April was described as remarkable, particularly considering his extensive legal engagements related to legal disputes with the Biden administration.

While Biden maintains a larger war chest, with approximately $84 million reported by the end of April compared to Trump’s $49 million, Trump’s recent fundraising success underscores his campaign’s resilience and ability to mobilize significant financial support.

Biden’s campaign has utilized its substantial funds to conduct extensive advertising campaigns in crucial battleground states. Additionally, a series of high-profile events, including the State of the Union address and fundraisers featuring prominent figures like former Presidents Bill Clinton and Barack Obama, have contributed to bolstering Biden’s financial resources.

Looking ahead, the Biden campaign plans to host another major fundraiser in June, featuring Hollywood stars George Clooney and Julia Roberts in Los Angeles. Despite the recent fundraising setback, Biden’s campaign remains focused on leveraging its resources to maintain momentum and competitiveness in the lead-up to the November 5 election.