LONDON — The 2024 U.S. presidential election has become the most expensive in history, with candidates Donald Trump and Kamala Harris collectively spending a staggering $3.5 billion (P199.5-B), according to the Financial Times.
The newspaper reports that Harris raised over $2.3 billion and spent approximately $1.9 billion, while Trump raised around $1.8 billion and spent about $1.6 billion. A significant portion of both candidates’ funds was allocated to media buys and advertising.
Notably, Trump’s campaign directed $100 million—roughly 14 percent of his total spending—towards his legal defense costs, which have been a significant financial burden for the former president.
In a discrepancy with the Financial Times figures, the nonpartisan political finance watchdog OpenSecrets reports that total spending in the 2024 White House race has reached an eye-popping $5.5 billion.
Campaigns for the U.S. presidency are funded through a mix of personal funds, party contributions, donations from individuals, and money raised through political action committees (PACs). (TASS)
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