Kamala Harris Sees Big Surge In Donations After Biden Exits Presidential Race

Vice President Kamala Harris is seeing a surge of financial backing from significant donors as she races to lock down support for her White House bid following the withdrawal of Joe Biden.

Immediately after Biden's announcement and his endorsement of Harris, major donors who previously supported Harris in her 2020 presidential primary and 2016 Senate campaign began mobilizing to secure contributions, according to CNBC.

Jon Henes, Harris's national finance chair during her 2020 presidential bid, reported receiving over 200 messages from people eager to host fundraising events and donate.

Marc Lasry, a prominent Wall Street executive who raised funds for Harris during her 2020 primary run against Biden, is among those now rallying for her. Lasry had also supported Biden in the 2020 election cycle after Harris dropped out.

It comes as Harris started seeking full support from Democrats for her presidential bid.

On Sunday, she engaged in conversations with the chairs of three influential groups: Rep. Pramila Jayapal (D-Wash.) of the Congressional Progressive Caucus, Rep. Nanette Barragán (D-Calif.) of the Congressional Hispanic Caucus, and Rep. Ann McLane Kuster (D-N.H.) of the New Democrat Coalition. All three leaders have pledged their support for Harris's nomination.

Harris also reached out to Rep. Mark Pocan (D-Wis.), who expressed his enthusiasm on social media, saying, "She is ready to win in Wisconsin!!!"

Rep. Jared Huffman (D-Calif.) also confirmed that he had been contacted by her staff.

Meanwhile, California Gov. Gavin Newsom (D) also threw his weight behind Harris for president.

The progressive donation platform ActBlue reported raising $27.5 million from small-dollar donors within five hours of Biden's endorsement of Harris, later announcing the total had surpassed $45 million.

Following the endorsement, the Biden campaign filed paperwork with the Federal Election Commission to rename itself "Harris for President."

The renewed donor enthusiasm is significant, particularly as some top financiers had previously withheld funds from Biden's campaign following his poor debate performance against former President Donald Trump on June 27.

Venture capitalist Reid Hoffman, who has already donated at least $10 million to Biden-supporting political action committees, plans to increase his support for Harris, according to sources.

Before Biden's exit, Harris's allies were organizing a fundraiser in the Hamptons for early August, featuring Second Gentleman Doug Emhoff. Some donors had initially ignored the invite due to frustration with Biden, but the event is now expected to sell out, with many donors re-engaging to support Harris.

However, not all major donors are on board with Harris yet. Stewart Bainum Jr., chairman of Choice Hotels and a significant Biden donor, remains undecided, advocating for a contested nomination process at the Democratic National Convention in August.