Over 50 percent of the $32.7 million raised by the Democratic National Committee in March came from an $18 million transfer from the failed presidential campaign of Michael Bloomberg, according to FEC records.
Bloomberg’s gift comes after the former New York City mayor decided in March to shelve plans to reorganize his $500-million campaign into an organization to work on behalf of the Democratic presidential nominee’s campaign.
“While we considered creating our own independent entity to support the nominee and hold the President accountable, this race is too important to have many competing groups with good intentions but that are not coordinated and united in strategy and execution,” the Bloomberg campaign explained in a statement.
DNC chairman Tom Perez said at the time that the shift of funds to the DNC would “help us invest in more organizers across the country to elect the next president and help Democrats win up and down the ballot.”
Alongside the DNC, former vice president Joe Biden had his best month of fundraising in March, pulling in $46.7 million despite the Wuhan coronavirus pandemic. But the DNC and Biden spending apparatus, which has approximately $57 million in cash on hand, is dwarfed by that of President Trump and the Republican National Committee, which have over four times the amount.
The RNC and the Trump campaign announced earlier this month that they had raised $63 million in March and $212 million in the first quarter of 2020, a 36 percent from the fourth quarter of 2019.