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expected to become American elections 2024 is the most expensive year in history, with total spending of nearly $15.9 billion.
These expenditures, which include all of the elections that took place on Tuesday, from the presidential race to the local elections to the elections for members of Congress, exceed the amount of $15.1 billion spent in 2020, and more than double the electoral spending of 2016 ($6.5 billion), according to the “Open Secrets” organization. Non-profit.
In the hotly contested presidential race, the Democratic candidate took the lead Kamala Harris In terms of fundraising, her campaign was able to raise more than $1 billion directly, 40% of which came from small donors, in addition to an additional $586 million from supporting political action committees.
In contrast, the Republican candidate’s campaign succeeded Donald Trump Of the $382 million raised directly, 28% came from small donors, while political action committees contributed $694 million.
The largest donor is Timothy Mellon, the 82-year-old banking heir who donated $197 million to Trump and Republicans.
Other major GOP supporters include Richard and Elizabeth Uehlein of the packaging industry, casino magnate Miriam Adelson, and the CEO of Tesla and SpaceX. Elon Muskand investor Kenneth Griffin, each of whom has contributed more than $100 million to Trump and Republicans.
On the Democratic side, Michael Bloomberg emerged as the largest donor, contributing about $93 million. George Soros gave $56 million through his political action committee.
In total, $10.5 billion was spent on campaign ads ranging from presidential to local elections, according to data compiled by Ad Impact, an advertising tracking company.
The presidential campaigns of Harris and Trump spent $2.6 billion on advertising from last March to November 1. Democrats spent $1.6 billion, while Republicans spent $993 million.
Pennsylvania topped the list of spending in swing states with $264 million, followed by Michigan with $151 million, then Georgia with $137 million.
Pennsylvania saw $1.2 billion spent on all election races, from presidential elections to local officials elections.
Although a large portion of media and entertainment activity has moved to cyberspace, digital platforms received $419 million from presidential advertising, representing only 17% of total spending.
On the Facebook and Instagram platforms, Democrats spent $132.4 million compared to $24.7 million from Republicans, while Republicans led spending on the X platform with $1.1 million compared to $150,000 from Democrats, according to “Ad Impact.”
