Former President Donald Trump's campaign has seen a flood of donations pour into his bid to retake the White House in 2024. In May alone, Trump raised $60 million more than President Joe Biden's reelection campaign, according to campaign finance reports.

The surge in donations was driven in large part by the verdict in Trump's “hush money” trial in New York, where the Trump campaign announced it had received more than $50 million in donations the day after the trial ended.

The news is a major problem for the Biden administration's reelection effort: The president, who has received higher percentages and amounts of donations than Trump in recent months, is set to see his financial advantage significantly shrink.

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The shift began in April, when Trump outraised Biden by $76 million to the incumbent's $51 million. Trump had more success in May, raising $141 million to Biden's $85 million. During the same period, the Republican National Committee and the Trump campaign received a combined $2 million in donations, 25% of which were from first-time donors.

One of the most significant donations so far came from billionaire Timothy Mellon, who donated $50 million to a Trump-aligned super PAC shortly after the verdict.

Former White House Press Secretary and Communications Director Sean Spicer had this to say about the influx of donations to Trump:

Remember when the left-wing media was talking about the Biden campaign’s overwhelming financial advantage…

$116.5 million: The amount of cash the Trump campaign had on hand at the start of June

$91.6 million: The amount of cash the Biden campaign had on hand at the start of June

— Sean Spicer (@seanspicer) June 21, 2024

Additionally, according to FEC filings from May, Trump and the Republican National Committee had $171 million in cash on hand, while Biden and the Democratic National Committee had $157 million.

Austin Shipley is a Yellow Hammer News staff writer. @ShipleyAusten