President Joe Biden and the Democratic National Committee said they raised more than $51 million in April, but they fell behind Donald Trump and the Republican Party’s $76 million.

Biden’s reelection campaign said it had $192 million in cash on hand as of the end of April, which it claimed was higher than any Democratic candidate in history. However, this was roughly the same amount it reported having at the end of the year’s first quarter in March, suggesting the campaign was spending money as quickly as it raised it.

April’s total was down from March, when the president and DNC announced the campaign raised more than $90 million.

Though Biden has consistently outraised Trump, the former president’s April intake was boosted by a record-setting $50.5 million collected from a single event early in the month at the Palm Beach, Florida, home of billionaire investor John Paulson.

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The event was Trump’s response to a March event with former Presidents Bill Clinton and Barack Obama at New York’s Radio City Music Hall through which the Biden campaign reported raising $26 million. Next month, the president’s campaign is planning a Los Angeles fundraiser featuring stars George Clooney and Julia Roberts.

Biden campaign manager Julia Chavez Rodriguez said April’s total “is giving us the resources necessary to invest in opening offices, hiring organizers and communicating across our battleground states to mobilize the coalition of voters who will decide this election.”

Trump and the Republican Party saw many fundraising successes early in the 2020 election cycle, only to lose the race. However, polls have shown Biden continuing to face low approval ratings by voters who say they do not want to see a 2020 rematch.

The former president has faced challenges with his finances amid his indictments in four criminal cases.

Since Biden announced his reelection bid in April 2023, his team reports that 96% of all donations have been less than $200, and 1.8 million donors have now made almost 4.9 million contributions.

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