Joe Biden and joint fundraising committees raise record-breaking $364.5 million in August

Joe Biden's presidential campaign and joint fundraising committees raised an eye-popping $364.5 million in August, the campaign said Wednesday, setting a new monthly record for presidential fundraising.

The massive cash haul flooded in last month as Biden announced his vice presidential pick, California Senator Kamala Harris, and officially accepted his party's nomination in the first-ever virtual Democratic National Convention.

The campaign said online donations totaled $205 million, or 57%, representing “the best month of online fundraising in American political history.” More than 4 million people have made contributions, with 1.5 million new donors in August, according to the campaign. 

“In August, together, we raised $364.5 million. That figure blows me away,” Biden said in a message to supporters. “And we raised it the right way, from people across the country stepping up to own a piece of this campaign, investing in the future we want to see for our kids and grandkids.”

The record-shattering total comes as Biden and President Trump are just over 60 days away from the presidential election on November 3. The New York Times first reported on Tuesday that the campaign was expecting to report a figure over $300 million.

The haul more than doubles what the Biden campaign and joint fundraising entities raised in July. In comparison to previous campaign cycles, in August 2016, Hillary Clinton's campaign and joint fundraising committees announced raising $143 million. And in 2012, President Obama's reelection campaign and the Democratic National Committee brought in $114 million that August and $181 million in September. In September 2008, Obama and the DNC together raised $193 million, which was the former record for fundraising in a single month.

On August 11, Biden revealed Harris would be his running mate after months of speculation. In just 24 hours following the announcement, the campaign raked in $26 million. It was the campaign's best fundraising day to date. And 48 hours later, the campaign said it had brought in $48 million, including $39 million online, showing grassroots momentum heading into the final few months before the election. 

Less than a week later, Democrats kicked off the Democratic National Convention. That week, Biden for President and its joint fundraising entities, brought in another $70 million in just four days, more than the $60 million the Biden campaign brought in across all of 2019. 

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At the same time, the Trump campaign, Republican National Committee and joint fundraising entities raised $76 million over the course of four days during the Republican National Convention last month. The president's campaign has not yet announced how much money was raised over the entire month. 

In July, the Trump campaign and committees outraised Biden's campaign and committees by about $25 million, with $165 million compared to the Biden campaign's more than $140 million. However, the Biden campaign that month still managed to nearly close the gap in cash on hand with the president's campaign, reporting a $294 million war chest heading into the final months of the campaign cycle, just $6 million shy of the Trump campaign and RNC's $300 million. 

Presidential campaigns and political parties have a September 20 deadline to file August fundraising numbers and expenses with the Federal Election Commission.