In the race for the 2024 presidential election, Florida Governor Ron DeSantis has been making headlines for his fundraising efforts and campaign spending. Since launching his campaign, DeSantis has raised an impressive $20 million in donations.[0] However, recent reports indicate that his campaign has already spent about $8 million of that amount, leaving him with just $9 million remaining for the primary election. It is worth noting that $3 million of his remaining funds can only be spent in the general election if he wins the Republican nomination.[0]
The fundraising data reveals that DeSantis received over one-third of his donations during the first 10 days of his campaign.[1] Additionally, his campaign has relied heavily on wealthy donors who have already reached their maximum permitted individual contributions.[1] The campaign has allocated significant funds towards various expenses, including a payroll of 90 staffers, fundraising efforts, merchandise, digital consulting, media placements, and direct mail.[1] These expenditures have resulted in a rapid depletion of campaign funds.[2]
While DeSantis initially saw a surge in fundraising after launching his presidential bid, the momentum quickly dwindled in the following weeks.[3] Among individuals giving more than $200, DeSantis raised over $5 million in the opening days of his campaign, accounting for approximately 30% of his total donations from those donors in the quarter.[3]
Despite the financial challenges, DeSantis remains optimistic about his campaign. His spokesperson, Andrew Romeo, stated that Americans are rallying behind DeSantis and his plan to reverse President Joe Biden’s failures.[4] Romeo believes that DeSantis’s momentum will continue to grow as voters have more opportunities to see him in person, particularly in key states like Iowa.[4] The campaign aims to build a movement that can go the distance and ultimately defeat Biden.[5]
However, the financial strain on DeSantis’s campaign has led to substantial changes in his staff. Roughly a dozen staffers have been fired, and more terminations are expected in the coming weeks as the campaign seeks to trim costs.[6] Concerns have been raised about the campaign’s high burn rate and the excessive number of people brought on board. Republican sources familiar with the campaign have stated that these warnings were disregarded by the campaign manager.
The financial challenges faced by DeSantis are in stark contrast to his main rival, former President Donald Trump. Trump’s joint fundraising committee reported raising over $35 million in the second quarter, twice the amount raised in the previous three months.[7] The discrepancy in fundraising numbers has led Trump to taunt DeSantis, urging him to exit the race and use his campaign money to support Trump and the Republican Party in the 2024 elections.[6]
As the 2024 presidential race unfolds, it is clear that fundraising and campaign spending will play a crucial role. DeSantis’s campaign will need to find a way to navigate these financial obstacles and regain momentum to compete effectively against Trump and other candidates. The upcoming months will be critical in determining the trajectory of DeSantis’s campaign and his chances of securing the Republican nomination.
0. “DeSantis lays off staffers as his campaign burns through funds” Business Insider, 16 Jul. 2023, https://www.businessinsider.com/ron-desantis-lays-off-staffers-as-campaign-burns-through-funds-2023-7
1. “DeSantis reduces staff as campaign struggles to meet fundraising goals – report” The Guardian US, 16 Jul. 2023, https://www.theguardian.com/us-news/2023/jul/16/desantis-reduces-campaign-staff
2. “Top donors, souring on DeSantis, start looking at Tim Scott” POLITICO, 13 Jul. 2023, https://www.politico.com/news/2023/07/13/top-donors-tim-scott-00106062
3. “DeSantis fundraising slowed after initial campaign launch, filing shows” CNN, 16 Jul. 2023, https://www.cnn.com/2023/07/15/politics/ron-desantis-president-campaign-fundraising/index.html
4. “DeSantis In Disarray As Campaign Sheds Staff, Focuses on Iowa” Vanity Fair, 16 Jul. 2023, https://www.vanityfair.com/news/2023/07/desantis-in-disarray-as-campaign-sheds-staff
5. “Ron DeSantis cuts campaign staff as donations slow in faltering campaign” The Telegraph, 16 Jul. 2023, https://www.telegraph.co.uk/world-news/2023/07/16/ron-desantis-sacks-ten-campaign-staff-donations-slow
6. “DeSantis has $12.2 million in cash on hand after raising $20 million” Sarasota Herald-Tribune, 16 Jul. 2023, https://www.heraldtribune.com/story/news/2023/07/15/desantis-has-12-2-million-in-cash-on-hand-after-raising-20-million/70417239007/
7. “2nd quarter presidential fundraising highlights: Trump brings in more than DeSantis” ABC News, 17 Jul. 2023, https://abcnews.go.com/Politics/presidential-fundraising-highlights-trump-brings-desantis/story?id=100966898
