Biden raises over $97 million in fourth quarter, enters election year with $117 million war chest

President Joe Biden‘s reelection effort says it received over $97 million in contributions during the fourth quarter of 2023.

As a result, Biden and Vice President Kamala Harris‘ political operation entered a pivotal year with $117 million cash in their campaign war chest. The amount represents the sum total of four entities: Biden’s campaign, his two joint fundraising committees and the Democratic National Committee.

“Across our coalition, we are seeing early, sustained support that is helping us scale our growing operation across the country and take our message to the communities that will determine this election,” Julie Chavez Rodriguez, Biden’s campaign manager, said in a statement.

The $117 million provides the campaign with crucial resources as he president struggles in the polls. Biden’s approval numbers dropped to 40% in a survey taken in November, according an NBC News survey.

Biden’s campaign pointed to online fundraising as key to their strategy.

For example, a contest called “Cup of Joe,” which allowed contestants the chance to meet with both Biden and Harris, helped raise over $3 million, the campaign said.

In addition to padding its bottom line, Biden’s political operation also grew its email list by 15% in the fourth quarter. Those people may not be donors yet, making them ripe targets for fundraising as the campaign progresses.

Former President Donald Trump, Biden’s likely rival in the race for president, had not announced how much he raised throughout the last quarter.

But the numbers Trump reported during his reelection campaign in 2019 offer a point of comparison.

In the fourth quarter of 2019, Trump and the Republican National Committee reported a combined haul of $125 million, significantly more than Biden’s $97 million figure.

Trump’s reelection effort said it at the time that it began 2020 will $156 million in cash on hand. Biden has $117 million.