2024 Election Hits $15.9B Record; Harris Raises $1B, Ends Campaign $20M in Debt

Nov 7, 2024, 03:50 AM

The 2024 U.S. presidential election set a new record as the most expensive in history, with total campaign spending reaching $15.9 billion, surpassing the $15.1 billion spent in 2020 and more than doubling the $6.5 billion in 2016. The campaigns of President Donald Trump and Vice President Kamala Harris collectively raised $4.2 billion, spending approximately $3.5 billion by mid-October. Kamala Harris's campaign alone raised over $1 billion, significantly outpacing Trump's $388 million fundraising. Despite having $118 million in the bank as of October 16, Harris's campaign concluded with at least $20 million in debt, according to reports. Despite substantial financial backing, Harris lost the election to Trump. The escalating expenditures highlight the intensifying costs of U.S. presidential campaigns over recent cycles.