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ActBlue said that it raised $50 million for Kamala Harris in the first 12 hours after Joe Biden dropped out. But it also said that total donations were $70 million. That means that $20 million was raised for downballot Democrats running for the Senate, the House, and state offices. The day before the $70 million haul, Act Blue processed $7 million. So the haul after Biden dropped out was 10x what it was with him in there. And this does not reflect at all what big donors are going to do, only small ones.
The strong fundraising continued yesterday. In the first 24 hours after Biden's announcement, ActBlue took in $81 million. That is the largest haul in any 24-hour period in the organization's history. Clearly the pessimism springing from Biden's age and shakiness is gone now and Democrats are optimistic from the top of the ballot down to lower offices. This kind of optimism often results in high turnout on Election Day (and before it).
ActBlue handles the small fry. Future Forward is the super PAC that handles the big fry. In the 24 hours after Biden pulled out, Future Forward got pledges of $150 million from large donors. This is on top of the $122 million it had in the bank as of June 30 and the $96 million in the Harris campaign bank account. We'll do the math for you to save you some work: $96M + $81M + $150M + $122M = $449M. You could actually run a campaign on that and the money is continuing to stream in. (V)