The 2024 US election, which went to the polls on Tuesday, is on track to be the most expensive in American history, with contributions and campaign spending reaching a record-breaking $15.9 billion, according to data from the nonprofit OpenSecrets. This figure surpasses the $15.1 billion spent in the 2020 cycle and is more than double the $6.5 billion spent in 2016.
In the fiercely contested presidential race, Vice President Kamala Harris leads in fundraising, bringing in over $1 billion for her campaign, with an additional $586 million from supporting political action committees. Meanwhile, Donald Trump’s campaign raised $382 million, supplemented by $694 million from affiliated committees.
Among the largest individual donors, Timothy Mellon stands out, contributing $197 million to Trump and other Republican causes. Major Democratic contributions came from Michael Bloomberg and George Soros, who gave $93 million and $56 million, respectively.
Campaign ads alone accounted for $10.5 billion, with Pennsylvania emerging as a key battleground, amassing $1.2 billion in spending across various races. Digital advertising accounted for only 17 percent of presidential ad spending, with Democrats significantly outspending Republicans on platforms like Facebook, while Republicans led on X (formerly Twitter).
With ad themes focused on issues such as the economy, immigration, and healthcare, this election reflects unprecedented financial stakes as candidates vie for public support.
