Politics

Joe Biden raises $22.7 million in the fourth quarter, lagging Bernie Sanders and Pete Buttigieg

Key Points
  • Joe Biden's presidential campaign raises $22.7 million in the fourth quarter. 
  • His haul is higher than his third-quarter total, but trails the fundraising of rivals Bernie Sanders and Pete Buttigieg in the final three months of the year.
Democratic presidential hopeful former Vice President Joe Biden laughs during the sixth Democratic primary debate of the 2020 presidential campaign season co-hosted by PBS NewsHour & Politico at Loyola Marymount University in Los Angeles, California on December 19, 2019.
Frederic J. Brown | AFP | Getty Images

Joe Biden's presidential campaign took in $22.7 million in the fourth quarter, an improving fundraising pace that still lags some of his rivals for the 2020 Democratic nomination.

It marks the best cash haul for the former vice president so far, his campaign announced Thursday. It did not say how much money it had in the bank heading into January, the crucial final weeks before the first primary nominating contest in Iowa.

"We had a great quarter, and we're going to expect another one next time," Biden said in a video shared by his campaign.

Biden's fourth-quarter total ranks third among the Democratic hopefuls who have announced the money they raised in the final three months of 2019. Sen. Bernie Sanders, I-Vt., took in a staggering $34.5 million. Former South Bend, Indiana, Mayor Pete Buttigieg raised $24.7 million.

Biden needed a fundraising rebound as he jockeys for position at the top of the 2020 Democratic presidential primary field. While the former vice president has consistently led in an average of national surveys, he is trying to regain the lead position in the first two nominating states of Iowa and New Hampshire.

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How the 2020 presidential candidates' Q4 fundraising numbers shape up

Biden's haul follows a lackluster third quarter. His campaign took in only $15.7 million in individual contributions during the period and ended September with about $9 million in the bank.

Both figures lagged his top rivals for the nomination, Sanders, Sen. Elizabeth Warren, D-Mass., and Buttigieg.

Biden and Buttigieg have taken a different approach to raising cash than Sanders and Warren, who have sworn off big-dollar fundraisers in favor of smaller donations. The campaign fundraising events with wealthier donors have sparked backlash for both Biden and Buttigieg.

Last month, the former vice president's campaign released the names of more than 200 bundlers who helped to raise more than $25,000 for the presidential effort.

The Biden campaign touted a stronger fourth-quarter fundraising performance among smaller donors. Digital donations to Biden doubled from the third quarter, the campaign said.

Competing for money in a jammed field, Democratic candidates have failed to keep pace with President Donald Trump's fundraising. The incumbent's campaign took in $46 million during the fourth quarter.

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