As Donald Trump begins to dip his toe in the campaign-fundraising pool, new financial reports show he has a long way to go.
Indeed, he raised less money from donors in the month of May than any major-party nominee since 2000.
In his first month after changing tack and saying he would ask for donations to fund his general-election campaign, Trump raised $3.1 million in May — plus another $2.2 million in loans from his personal wealth — compared to the $25.5 million Hillary Clinton took in last month, according to new campaign-finance reports filed with the Federal Election Commission earlier this month and released late-Monday night.
After self-funding his primary campaign, Trump found himself on pace to raise and spend less than almost any major candidate in the modern era of campaign finance.
His $5.4 million in fundraising during the month of May topped only Al Gore's reported total of $4.4 million in 2000, by virtue of the candidate's own loans. It fell short of the $6 million reported by George W. Bush in 2000, Bush's $13.9 million in 2004 and John Kerry's $30.8 million. Barack Obama and John McCain in 2008, and Mitt Romney in 2012, each raised sums in the low $20 million range. In 2012, Obama raised $38.3 million in May.
Candidates raised and spent less in 2000 and 2004, when all four major presidential campaigns elected to accept public funding in the latter stages of the campaign, which restricted fundraising. Since 2000, campaigns have raised between Al Gore's $128 million and Obama's $749 million and $726 million in 2008 and 2012, respectively.
Even counting the $45.7 million Trump has loaned his primary effort, and the nearly $400,000 he has donated to it, the billionaire's campaign has taken in just $63.2 million so far, well behind the $232.1 million taken in by Clinton.
It's even farther behind the $287.6 million taken in by then-Sen. Barack Obama by the end of May 2008, or the $122 million reported by Mitt Romney by this point in 2012. Since 2000, Trump's total bests only the $52 million reported by Gore.
Campaign-fundraising totals have not been adjusted for inflation, but the cost of campaigns has grown through the past decade.
The May totals do not reflect more recent activity, as Trump's fundraising operation has ground into gear. This month, Trump has attended fundraisers co-organized with the Republican National Committee . He claimed last week to have raised between $13 million and $14 million in one day.
The founder of a Trump-allied super PAC, which was not created until June, told CNN he had secured $32 million in commitments to support Trump. Those totals fall after the date range covered by the latest batch of official campaign-money report.
Other than a “donate” button on his website, Trump had not done much to actively pursue contributions during his primary campaign. After he secured the presumptive GOP nomination, however, Trump changed tack and said he would fund his general-election campaign with donations, not his own wealth.
Trump set up a fundraising operation for the first time in May. He began that month by forcing his last two remaining primary opponents out of the race and pivoting from his self-funding strategy, saying he would instead seek donations to fund his general-election campaign.
Early in that month, Trump announced two joint fundraising committees with the RNC and designated a finance chairman, something Hillary Clinton reportedly had as early as March 2015, before she was officially a candidate.
More recently, Trump has backed away from a fundraising target of $1 billion, saying it's not necessary to raise and spend so much. In several ways, Trump's campaign lags far behind modern standards as the billionaire continues to defy the conventional wisdom of campaign organization.
While most candidates spend hours on the phone asking for money and slog through schedules packed with fundraisers, to pay for field staff and expensive ad campaigns, Trump has derided traditional practices —like data and targeting — as overrated or unnecessary, opting instead to run a nationwide publicity campaign built on news coverage and cable-TV interviews.
The historical imbalance reflects that strategy and does not account for Trump's more active recent activities. The new numbers, however, also show an imbalance in resources moving forward.
Trump's shoestring campaign advanced into June with a mere $1.3 million in his campaign coffers, compared to Clinton's $42.5 million.
Counting super PACs that are backing each candidate and the parties themselves, Republicans entered June with $21.7 million in their presidential war chest; Clinton and Democrats had $103.4 million.
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