Donald Trump and Kamala Harris have spent a combined $3.5 billion in the 2024 U.S. presidential election, making it the most expensive campaign in U.S. history.
Financial Times, which cited campaign finance filings, said the two candidates and their respective parties raised nearly $4.2 billion in total.
Harris, with support from the Democratic National Committee and associated Super PACs, raised over $2.3 billion, outspending Trump, whose groups raised $1.8 billion. Both campaigns funnelled significant amounts into media and advertising, especially in key swing states, with Harris’s groups spending over $1 billion on ads, the FT noted.
The campaigns have collectively invested $1.5 billion in advertisements across the seven battleground states, with $400 million alone going to Pennsylvania.
A notable portion of Trump’s campaign funds, over $100 million, has been directed towards his ongoing legal expenses, a financial burden offset by PACs like the Musk-backed America Pac, which contributed $118 million and managed voter outreach.
Harris’s campaign has maintained a more traditional approach, focusing its Super PAC, Future Forward, on ad spending in crucial states.
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The election’s unprecedented fundraising and spending demonstrate the escalating financial stakes in U.S. politics, as both parties vie for the presidency amid a highly competitive and costly campaign.