Vivek Ramaswamy raises $7.7M in second quarter of 2024

GOP presidential candidate Vivek Ramaswamy raised greater than $7.7 million within the second quarter of 2023, The Publish has realized.

The fundraising will doubtless assist enhance Ramaswamy’s probabilities of qualifying for the primary Republican major debate on Aug. 23, however the majority of the haul got here from the candidate himself.

Ramaswamy gave his marketing campaign a $5 million mortgage, his second of his nascent marketing campaign, and likewise made a further $400,000 in in-kind contributions, information offered to the Publish by the marketing campaign exhibits.

All instructed, 70% of the overall his marketing campaign introduced in from April via June got here from Ramaswamy’s pockets.

Simply $2.3 million, or about 30% of the overall, got here from particular person donors. His common donation dimension was round $30.

Nonetheless, these contributions introduced the candidate to greater than 65,000 particular person donors, which implies he’ll now doubtless qualify for the get together’s first debate of the 2024 cycle subsequent month in Milwaukee.

To take part, candidates should have acquired marketing campaign contributions from 40,000 distinctive donors and obtain a minimum of 1% help in three nationwide polls or 1% in two nationwide polls and 1% in early state polls from two separate states.

Ramaswamy, 37, a biopharmaceutical entrepreneur, is a primary time candidate who has by no means held public workplace.

The candidate’s mortgage was the second he’s made to his longshot marketing campaign.

Ramaswamy beforehand reported lending his marketing campaign $10 million to get it off the bottom.

The candidate just lately raised eyebrows with a scheme to crowdsource his fundraising by offering individuals 10% of the donations they bring in for him.

Whereas the money will preserve him within the sport, Ramawamy continues to lag effectively behind the race frontrunners.

Former President Trump netted greater than $35 million in his second quarter fundraising, whereas Florida Gov. Ron DeSantis scored $20 million.

President Biden raised $72 million within the second quarter — greater than Trump, DeSantis and Ramaswamy mixed.