Posted on: November 7, 2024, 03:44h.
Last updated on: November 7, 2024, 03:44h.
Vice President Kamala Harris’ unsuccessful bid for a job promotion at the White House cost almost $2.3 billion. According to the most recent financial disclosures, the Harris campaign spent $1.37 billion of that money on advertising.
Since she became the Democratic nominee in July after being handpicked by party brass after President Joe Biden exited the race amid concerns about his mental fitness to lead the country for another four years, Harris attracted a flurry of major donations from celebrities, committees, and super PACs dedicated to keeping Donald Trump away from the Oval Office.
Harris outraised Trump by about $500 million, as the former president’s campaign collected about $1.8 billion in financial support. Trump spent $456 million less on media purchases than did his opposition.
The eye-opening numbers likely aren’t surprising to those living in critical swing states. Voters in Pennsylvania, Georgia, North Carolina, Michigan, Wisconsin, Nevada, and Arizona were inundated with political ads from Harris and Trump over the past several months. In the days leading up to Nov. 5, the Harris campaign bought ad space on the Sphere in Las Vegas.
The race concluded yesterday when Harris conceded the election to Trump at Howard University in Washington, D.C.
Race Not Even Close
Despite record spending, a Harris administration was resoundingly rejected by the American electorate. As of Thursday afternoon, with Nevada and Arizona still yet to be called, Trump held 295 Electoral College votes, far more than the 270 needed to win the presidency.
Trump managed to win all the swing states so far, including coveted Pennsylvania. Trump also leads in Nevada and Arizona with the remaining vote still being tallied.
Pollsters had the race tight heading into Tuesday. Betting markets, however, gave Trump a much likelier chance of winning a second term.
Polymarket bettors gave Trump about a 61% shot at winning as Election Day began. The former casino owner’s stock on Kalshi was trading at implied odds of 58%.
On Tuesday night, it became apparent that Harris’ path to the White House was stymied by the American public. In the election aftermath, some Democrats are blaming Biden for not exiting the race earlier to allow a proper primary. Others say simply that Harris was dealt a losing hand from the start in trying to overcome the high prices of everyday goods and services, an immigration crisis, and an administration seemingly focused on aiding Ukraine in perpetuity.
Some political pundits also questioned the strength of Harris as a presidential candidate. She faced much backlash for her Oct. 8 appearance on “The View” when she was asked what she would have done differently than Biden over the past four years and answered, “There is not a thing that comes to mind — and I’ve been a part of most of the decisions that have had an impact.”
Campaign Contributors
Several casino billionaires, including Dr. Miriam Adelson, Phil Ruffin, and Steve Wynn, heavily backed the Trump campaign. Adelson alone gave around $100 million.
Among Harris’ largest backers were Bill Gates, who gave her campaign $50 million, and Michael Bloomberg, who contributed $47 million.
On the celebrity front, actor George Clooney, who led the effort to push Biden out, held a fundraiser in July that raked in $28 million in one night.
