Obama Fundraising Beats Romney in August

First time president topped Republican opponent since April

   

investorpoliticsletters2 Obama Fundraising Beats Romney in AugustAfter trailing Mitt Romney in fundraising for the past three months, President Barack Obama finally managed to top his Republican foe in raising money in August.

Obama raised $114 million in August, according to his campaign manager. Mitt Romney’s campaign raised $111 million in August, their third straight month of raising over $100 million.

It’s a drastic improvement for Obama’s campaign, which raised just $75 million in July and $71 million in June. It also comes in the month preceding the Democratic National Convention, which will certainly boost fundraising figures. Of course, the Republican National Convention didn’t happen until the end of August, so there will likely be a boost for Republicans, too, in September.

The Obama campaign is following a similar strategy that they did in 2008, picking up almost all of its donations in the form of small donations. Donations of $250 or less made up 98% of their contributions, with an average donation of $58. Since last April, 3,142,457 people have given money to Obama.

– Benjamin Nanamaker, InvestorPlace Money & Politics Editor

The opinions contained in this column are solely those of the writer.

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