Former president donald trumpFundraising has dropped sharply in recent months, according to a Friday report from WinRed, the Republican donation processing portal.
While his name and image continue to dominate the GOP, his grip on voters appears to be loosening. The first half of 2022 was the first time since he left office 18 months ago that Trump’s fundraising in a six-month period did not exceed $50 million, The Washington Post reported.
This decline contrasts sharply with the fundraising growth of other Republican candidates, such as Florida Governor Ron DeSantis.
The report revealed that Trump’s political action committees raised $18 million between April and June, about $2 million less than in the previous three months. according to Reuters. For seven of the last nine months, Trump’s fundraising among small and large donors has dropped markedly.
Trump has raised just $36 million in the first half of 2022, a drastic 29% drop from the previous six months. (Photo: Seth Herald via Getty Images)
However, Trump’s spokeswoman, Taylor Budowich, appears to be in possession of alternative facts.
“Not only is he raising money at an unprecedented rate, but he is investing in America First candidates and continuing to grow that MAGA movement through 2022 and beyond,” Budowich said in a statement, adding that “any suggestions of what Otherwise it is just a tired case.” of narrative traffic biased by fake news”.
“Having campaigned and raised funds for President Trump since 2015, there has been no greater support and interest for him than there is today,” added Ed McMullen, a former US ambassador. “The popularity and fundraising of the President Trump continue to grow and prosper at every level.”
However, the facts suggest otherwise. Last year, Trump raised more than $56 million in online donations in the first six months. He raised $51 million from July to December and has currently raised just $36 million in 2022. This puts Trump behind DeSantis, who raised $45 million this year.
Despite the slowdown in donations from large entities, Trump’s online fundraising from small donors remains substantial. This is despite the House hearings on the insurrection of January 6 and allegations that Trump lied to his base about an alleged war chest that would be used to pursue his discredited claims of voter fraud.
In the meantime, DeSantis has drawn endorsements from some of the wealthiest Republican mega-donors, including Ken Griffin, a hedge fund manager who has promised to move his Citadel company from Chicago to Miami.
according to a june poll from the University of New Hampshire, DeSantis even had more support among likely Republican voters for the state’s 2024 presidential primary than Trump. DeSantis, Trump’s main competitor for the nomination, also has a war chest as big as Trump’s.
While donations are slowing, the Trump brand remains popular. Earlier this month, the disgraced former president used the Save America PAC to threaten legal action against Republican senators who use his name and likeness to raise funds of their own. according to The Washington Post.
This speaks to Trump’s enduring appeal in the GOP despite the spate of investigations and lawsuits.
“The entire fundraising apparatus in the GOP revolves around President Trump,” Caroline Wren, a fundraiser and GOP supporter who helped organize the Jan. 6 rally, told the Post.
Wren said numerous candidates and party caucuses “rely on the name of President Trump for their low-cost fundraising efforts” and praised him for “selflessly” raising millions for “America First” candidates and related organizations.
While Trump has tried to save his contributions until the time comes to announce his possible candidacy, an anonymous source close to the PAC told the Post that his spending skyrocketed in June. Those expenses stem from bills related to the Jan. 6 investigation and financial support for loyal candidates, the person said.
The source also revealed that the Save America PAC amassed $112 million at the end of June, which would represent a net profit of just $11 million since May.
While Save America’s PAC’s June report isn’t due to the Federal Election Commission until July 20, previous documents reported by the Post show the PAC spent $6 million to elevate candidates in the Georgia gubernatorial primary and the US Senate from Pennsylvania who Trump personally preferred: including TV personality Mehmet Oz.
As it is, Trump and DeSantis remain the leading Republican candidates as the November midterms approach. While Trump has only hinted in another presidential race and has yet to officially announce his candidacy, a Reuters/Ipsos poll conducted June 7-8 suggests a quarter of Republicans hope it won’t.
“There is definitely Trump fatigue,” Mike DuHaime, a Republican strategist, told Reuters. “Donors care about future elections, not past ones.”
This article originally appeared on HuffPost and has been updated.