Florida Governor Ron DeSantis has quickly burned through $7.9 million in campaign funds in his first six weeks as a presidential candidate, according to a recent analysis of his campaign finance disclosure by NBC News. This raises concerns about the financial viability of his campaign, as his fundraising ability has been a key measure of his campaign’s success. The analysis also revealed that DeSantis has had to cut costs by firing a dozen staffers.
While DeSantis raised an impressive $20.1 million in the second quarter, a majority of the funds came from donors who had already reached their legal maximum limit and cannot donate again. This means that he cannot use this cash to compete against former President Donald Trump, who has yet to reveal his campaign’s fundraising numbers for the second quarter. DeSantis finished June with over $12.2 million in the bank, but $3 million of that can only be used in the general election.
Despite his significant fundraising efforts, DeSantis has already spent about 40 percent of what he raised, primarily on salaries for his large campaign staff. In fact, he currently has the largest campaign staff among all of Trump’s Republican challengers, further exacerbating questions about how he will sustain his payroll without finding new sources of revenue.
DeSantis does have the advantage of a super PAC that can accept unlimited donations, which has already received $130 million. However, relying solely on smaller donations from individual supporters can be a different challenge altogether.
When comparing fundraising numbers among other Republican candidates, no one raised more than $6 million into their campaign accounts. South Carolina Senator Tim Scott’s campaign raised almost $5.9 million, while former Ambassador to the United Nations Nikki Haley’s campaign raised $5.3 million. Candidates such as former New Jersey Governor Chris Christie and former Vice President Mike Pence, who entered the race later, posted lower numbers.
The financial reports also indicate a reluctance among the candidates to invest heavily in campaign staffing and other major campaign costs. Many of the lower-polling candidates are struggling to meet the Republican National Committee’s threshold for qualifying for the first debate in August, which requires 40,000 unique donors.
Moreover, Trump’s challengers are not receiving much support from small-dollar donors. DeSantis, for example, only received about 14% of his total fundraising haul from small donors. Haley and Scott, who have previously invested in building up small-donor infrastructure, also received a small portion of their second-quarter totals from small donors.
In conclusion, Governor Ron DeSantis’ presidential campaign is facing financial challenges, despite raising a substantial amount of money. The majority of his funding is from donors who have reached their legal limits, leaving little room for additional contributions. Additionally, DeSantis has had to make cost-cutting measures, including firing staff members. Other Republican candidates are also struggling to raise significant funds and qualify for debates. This indicates the strong appeal that former President Donald Trump still holds among GOP primary voters.
