DECRYPTAGE – The new President of the United States has raised just over a billion dollars to fuel his victorious race for the White House. A smaller pot than Kamala Harris, but one that owes much to generous billionaires.
A victory that came at a high, high price. While his prize pool was smaller than that of Kamala Harris for his campaign, raising approximately $1.09 billion compared to $1.65 billion for his Democratic opponent, Donald Trump was able to count on financial support that was nonetheless colossal to become the 47th President of the United States. The total funds raised are equivalent to those of 2020. But this time, it led him straight to the Oval Office.
The astronomical amounts raised in the race for the White House can be explained by the predominance of Super PACs (Political Action Committee) in campaign financing. Since a United States Supreme Court in 2010, these private organizations allow individuals to make unlimited donations to support a candidate-related cause, without intervening officially or directly in the campaign. Pro-Trump Super PACs have raised $711 million according to the NGO Open Secrets, which…
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