Fundraising following Biden's dropout announcement just scorched Trump's after the former president's conviction

Democrats raised $53 million in less than half a day, surpassing the $52.8 million Donald Trump's campaign raised 24 hours after his conviction.

• After Donald Trump's conviction, the former president's campaign said it raised $52.8M in 24 hours.
• Democrats zoomed past those numbers in about half a day after Joe Biden dropped out of the race.
• ActBlue, the Democrat's fundraising platform, raised well over $53 million since the announcement.

Democrats just blew past one of Donald Trump's largest single-day fundraising numbers on Sunday after President Joe Biden's surprising withdrawal from the 2024 race.

By 11 p.m. Eastern Time on Sunday, ActBlue, a online donation platform for the Democratic party, showed on its website ticker that it had raised well over $14,053,000,000 since its founding in 2004. The organization had said earlier that day that Biden's announcement to drop out of the race and endorse Vice President Kamala Harris pushed the organization's lifetime donations over $14 billion.

That means within less than 12 hours, Biden's announcement garnered well over the $52.8 million Donald Trump's campaign said it raised in a day after the former president's historic felony conviction.

For further comparison, Trump's campaign took six months in 2023 to raise $58 million, federal records viewed by The New York Times showed.

ActBlue is also on track to surpass that record in less than 24 hours.

A Trump spokesperson did not address the fundraising numbers from Democrats but instead chose to criticize Harris in an email to Business Insider.

Biden's decision to drop out of the race immediately brought in a rush of support for the party from Democratic leaders, entrepreneurs, and small donors.

Some of those voices, including Gov. Gavin Newsom and LinkedIn cofounder Reid Hoffman, supported Biden's endorsement of Harris.

Democrats already beat a record for online contributions earlier on Sunday when they raised more than $30 million within several hours of Biden's announcement. According to The Times, that's the largest single-day donation the party has seen since the 2020 election.

In 2020, ActBlue said it raised $10.8 million in donations within four hours after Biden announced Harris as his running mate.

ActBlue said in May 2022 that the organization also raised $12 million in 2022, within months of the leak of the Supreme Court's ruling on abortion in January.