Joe Biden raises at least $350 million in August smashing through previous records set by Obama as he outspends Donald Trump tenfold on TV ads
Democratic nominee Joe Biden is expected to report a record-smashing $350 million-plus fundraising haul for the month of August.
The New York Times first reported the campaign and the Democratic National Committee had topped $300 million, which already beat President Barack Obama's best haul of $193 million in September 2008.
Later Tuesday, Bloomberg reported the number was closer to $350 million and going up.
Vice President Joe Biden and the Democrats raised more than $350 million to go toward the November election, according to reporting from Bloomberg
Joe Biden's fundraising haul comes the same week that many of President Donald Trump's television ads were taken off the airwaves, as his campaign is in a brief money-saving mode
August marked Biden's announcement of running mate, Kamala Harris, a California senator who had run her own bid for president before dropping out in December.
With the pick of Harris, Biden made history by adding the first woman of color to a presidential ticket.
Later in the month, Democrats had their four-night Democratic National Convention, which was held virtually from studios around the country, as the coronavirus pandemic prevented delegates, party leaders and journalists from gathering in person in Milwaukee, Wisconsin.
The campaign previously announced it had raised $48 million in the two days following the vice presidential announcement.
It also said it raised $70 million after the convention.
The Times also reported that ActBlue, Democrats' main donation platform, reported raising $35 million alone on Monday, the final day of the month.
Earlier Tuesday, the Associated Press reported that President Donald Trump had pulled most of his advertising from TV airwaves, as Biden recently outspent the incumbent by ten-fold.
The Trump campaign has been burning through money almost as soon as donations come in.
Biden, on the other hand, has a leaner campaign, allowing him to catch up to the long-held Republican and Trump financial advantage.
The Trump TV ads were pulled, according to the AP, because the Trump campaign was trying to conserve money.
At the beginning of the month, Biden and the Democrats had $294 million, while Trump and the Republicans started the month with $300 million.
In July, Biden and the Democrats had raised $140 million, while Trump and the Republicans earned $165 million.
The Trump campaign and the Republican National Convention's August numbers have yet to be released.