Record-breaking $3.5bn sets stage for historic 2024 election
Kamala Harris of the Democratic Party and Donald Trump of the Republican Party have together allocated $3.5 billion for the race for the presidency of the United States. According to the Financial Times, this makes the 2024 presidential campaign the most expensive general election in U.S. history.
According to a financial analysis of the presidential campaign conducted by the "Financial Times," a significant portion of the expenditures was allocated to advertising and media activities. Approximately half of the total campaign costs were focused on these activities.
The journal reports that most of the funds were concentrated in seven key states that may have a decisive impact on the election results. Groups supporting Kamala Harris alone invested over $1 billion in traditional and social media advertisements.
"More than $400 million was spent in Pennsylvania alone, where there are 19 electoral votes up for grabs—more than the $358 million spent in all 43 non-swing states," the journal states.
Record amount for the campaign
According to information from the Federal Election Commission (FEC) Harris's campaign raised $221.8 million in September, while Trump raised $62.7 million. This amount means that in less than three months of her election campaign, the Democratic candidate received over $1 billion from donors, which according to the "New York Times" is a record.
The data also shows that Democrats spent significantly more money on the campaign—mainly on TV and online advertising. Harris's campaign spent $222 million of the $270 million in September alone, while Trump's campaign spent $53 million of the $78 million. As a result, by the end of September, Harris's committee still had $187 million available, while Donald Trump's had $128 million.
Musk gave away a million dollars daily
Elon Musk's America PAC announced that by election day (Tuesday, 5 November), it would give away $1 million to one of the registered voters from key states who sign his political petition.
The petition mentioned is available to voters in seven key states that will decide the presidential election's outcome. Every voter who signed it would receive £39 for their signature and the signature of anyone they encouraged to sign it. The exception is Pennsylvania, which is considered the most important of the states in the presidential elections. Musk spent the most time during the campaign—the amount was £83.
A Pennsylvania court ruled that Elon Musk and his America PAC could distribute $1 million to voters in the so-called swing states.
