Republican presidential candidate and businessman Vivek Ramaswamy donated $5 million to his own campaign in the second quarter, bringing the total to $7.7 million before Saturday’s deadline, according to his Federal filing Election Commission (FEC).
The conservative businessman ended the quarter with about $9 million in cash on hand. His overall haul for the second quarter puts him well behind the two front-runners in 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 in 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 who outperformed 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 personal loans.
According to Ramaswamy’s campaign, 40 percent of his 65,000 donors are 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, to qualify for the first GOP primary. debate. They must also meet a minimum polling level and pledge to support the incoming Republican nominee.
Ramaswamy is one of several candidates in the crowded Republican field who have turned to unusual tactics to bring in donors. He announced Monday that he will offer a 10 percent commission to supporters who fund his campaign.
“If anyone else is going to get rich from this, it’s probably you. Let’s go,” he said on Twitter.
A recent Morning Consult poll showed the conservative businessman ahead of former Vice President Mike Pence and into third place in the Republican primary race. While Trump remains in the clear lead with 56 percent support among GOP primary voters and DeSantis sits in second with 17 percent, Ramaswamy gets 8 percent, the poll found.
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