The 2024 U.S. election has smashed all previous spending records, becoming the costliest in history with nearly $16 billion poured into federal races.
- Historic Spending: The total projected spending for the 2024 election is $15.9 billion, a significant rise from 2020’s $15.1 billion and more than double the amount in 2016.
- Presidential Race Focus: Kamala Harris and Donald Trump lead in fundraising, with their campaigns and supporting PACs amassing a combined $2.7 billion.
- Top Donors: High-profile billionaires like Michael Bloomberg and Bill Gates have contributed significantly, with Bloomberg and Gates each donating $50 million to Harris.
- Trump’s Wealth: Donald Trump, boosted by his business ventures, briefly reached a net worth of over $8 billion, though it has since adjusted to under $6 billion.
- Billionaire Backers: At least 135 billionaires have financially supported Harris or Trump, with 83 supporting Harris and 52 backing Trump.
With record-breaking sums and substantial contributions from billionaires, the 2024 election underscores the growing financial stakes and the profound impact of wealthy donors on U.S. politics.
