Following the groundbreaking news of his indictment by a Manhattan grand jury, former President Donald Trump wasted no time soliciting support for his legal defense and 2024 Republican presidential nomination bid. Less than two hours after the announcement, the Trump Save America Joint Fundraising Committee sent out an email requesting contributions of any amount to counter the "never-ending witch hunts" and secure the White House in 2024.
The indictment stems from a probe into hush money allegedly paid to adult film star Stormy Daniels, which Trump denies. In an email to supporters, Trump framed the charges as evidence of a left-wing conspiracy.
Political analysts and donors suggest that this development will likely spur Trump's most ardent grassroots supporters to contribute, providing a financial boost for the first quarter and potentially overshadowing Republican rival, Florida Governor Ron DeSantis, in the fundraising department.
Republican strategist Ron Bonjean predicts that "Trump's fundraising will go through the roof." He adds that "more perceived politically motivated indictments could cause a large spike in small-dollar donations for Trump and cut into DeSantis efforts on raising money."
The Trump campaign claimed to have raised $2 million in grassroots donations in the week following March 18, when Trump announced he was facing arrest in the hush money investigation.
However, financial disclosures to the Federal Election Commission reveal that Trump's online fundraising has weakened over the past year. His main fundraising groups collected approximately $46 million in the latter half of 2022, compared to roughly $50 million during the same period in 2021. Trump's presidential campaign financial figures for the first quarter of 2023 will be released by April 15.
At the end of 2022, Trump and an allied super PAC reported having nearly $80 million across multiple fundraising accounts. DeSantis, who is expected to announce a presidential run soon, is thought to have a similar amount. While Trump enjoys a dedicated core of supporters, many donors seek new leadership, with DeSantis emerging as a popular favorite among more than a dozen interviewed donors.
