Ramaswamy’s second quarter haul includes $5 million in self-donated funds
Republican presidential candidate and entrepreneur Vivek Ramaswamy donated $5 million to his own campaign in the second quarter, bringing in a total of $7.7 million before Saturday’s deadline, according to his Federal Election Commission (FEC) filing.
The conservative entrepreneur ended the quarter with about $9 million in cash on hand. His total haul for the second quarter places him well behind the two frontrunners of the Republican primary race — former President Trump and Florida Gov. Ron DeSantis — but ahead of most of the remaining candidates.
However, only about $2.7 million of Ramaswamy’s second quarter haul came from donor contributions. Since launching his bid for the Republican nomination in February, Ramaswamy has loaned his campaign more than $15 million.
The only Republican beyond Trump and DeSantis to surpass Ramaswamy in the second quarter was North Dakota Gov. Doug Burgum. He raised $11.7 million in the first 23 days of his campaign, nearly $10.2 million of which came from a personal loan.
According to Ramaswamy’s campaign, 40 percent of his 65,000 donors were either making their first donation to the Republican Party or their first political donation of any kind.
Candidates are required to bring in contributions from at least 40,000 unique donors, including at least 200 donors from 20 or more states and territories, in order to qualify for the first GOP primary debate. They also have to reach a minimum level of polling and pledge to support the eventual Republican nominee.
Ramaswamy is one of several candidates in the crowded Republican field who has turned to unique tactics to bring in donors. He announced on Monday that he would offer a 10 percent commission to supporters who fundraise for his campaign.
“If someone else is getting rich on this, it might as well be you. Let’s go,” he said on Twitter.
A recent Morning Consult poll showed the conservative entrepreneur pulling ahead of former Vice President Mike Pence and into third place in the Republican primary race. While Trump remained the clear frontrunner with 56 percent support among GOP primary voters and DeSantis sat in second with 17 percent, Ramaswamy garnered 8 percent, the poll found.
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