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Joe Biden raises $46.7 million in March 2020

Sanders on backing Biden, beating Trump
Sanders on backing Biden, beating Trump 06:17

Joe Biden had his best month of fundraising to date in March, as the race for the Democratic presidential nomination quickly winnowed, and one-time rivals rallied behind him. The presumptive Democratic presidential nominee raised $46.7 million in March. It is the most any Democratic presidential candidate raised in a single month of the 2020 election cycle to date. 

According to the Biden campaign, 70% of his fundraising for March came in online. The average donation was $40 and the occupation listed most often was "teacher." His Federal Election Commission monthly filing shows the former vice president finished March with more than $26 million cash on hand. 

Biden's record March fundraising mirrors the rapid turnaround of the former vice president's campaign last month. He had not won a primary until South Carolina's Democratic contest on February 29. After his landslide win prompted his remaining moderate opponents, Pete Buttigieg and Amy Klobuchar to drop their bids and back him before Super Tuesday, on March 3, Biden swept a majority of the states. 

In February, Biden raised less than half of what he did in March — just $18 million. And in January, he raised less than $9 million.

"It was your support which has made us the presumptive nominee of our party," Biden said in a fundraising email to supporters Monday evening acknowledging the dramatic shift in the race. "That is something no one was predicting just a little over a month ago." 

The cash haul comes as Biden has had to shift to virtual campaigning amid precautions taken to prevent the spread of the coronavirus. In his email to supporters, he also indicated it would have an impact on his fundraising numbers moving forward. 

"I know that April may not match March in fundraising, and that's okay by me. The world has changed a great deal. It's unrecognizable at times. Your family and your community need your generosity and strength now more than ever," the email read.

While Biden continues to hold virtual fundraisers and make online appeals to supporters, his campaign faces a serious cash disadvantage compared to President Trump ahead of the general election. Last week, the Trump campaign announced that along with the Republican National Committee and joint fundraising committees, it raised $212 million in the first three months of 2020, including more than $63 million in March alone. The Republican operation had more than $240 million cash on hand at the end of March. 

According to its March FEC filing, the Democratic National Committee raised more than $32 million in March. $18 million of that came from a transfer from Mike Bloomberg's campaign after he dropped out of the race following Super Tuesday. 

The DNC finished the month with more than $35 million cash on hand, but is more than $5 million in debt.

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