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The first full financial look at the 2024 presidential race came into focus over the weekend as candidates filed campaign finance reports with federal regulators. They highlight potential trouble spots for Florida Gov. Ron DeSantis and expose a wide chasm between the early fundraising leaders in the Republican primary and the rest of the GOP field.
Here are takeways from the second-quarter fundraising reports for the three months ending June 30.
DeSantis’ burn rate
The Florida governor raised $20 million – a strong total – but his campaign is burning through cash at a rapid rate, spending nearly $8 million since he entered the contest in late May, according to its filing Saturday with the Federal Election Commission.
Travel and payroll expenses each topped $1 million, and more than $800,000 went to digital fundraising consulting, according to the campaign’s report. As of the end of June, DeSantis employed 90 people, compared to nearly 40 people employed by the campaign of former President Donald Trump, the current GOP primary front-runner.
On Saturday, a DeSantis campaign aide confirmed that the team had recently trimmed some staff.
“Defeating Joe Biden and the $72 million behind him will require a nimble and candidate driven campaign, and we are building a movement to go the distance,” campaign spokesperson Andrew Romeo said in a statement.
The latest filing underscores another warning sign for DeSantis: A small share – less than 15% – of his contributions from individuals came in amounts of $200 or less. Robust small-dollar donations can offer a sign of grassroots momentum behind a campaign, and supporters who contribute small amounts can be tapped repeatedly for donations before hitting the maximum $3,300 an individual can legally donate in primary elections.
