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World Map / Upcoming Elections / US Presidential election 2016 / US Election Updates / Obama nears $1 billion mark in campaign fundraising

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US Election Updates - October 8, 2012

Obama nears $1 billion mark in campaign fundraising

President Barack Obama is close to raising $1 billion in funds as part of his re-election bid.

With the latest report and less than a month to go until the November 6 election, the Democratic incumbent is close to reaching the target predicted by political pundits and commentators.

“Some amazing news this morning: 1,825,813 people came together to raise $181 million for this campaign in September,” Obama tweeted Saturday as the campaign released its figures for last month.

The announcement brings the Obama’s total fundraising to $947 million.

The $181 million, raised by the Obama and the Democratic National Committee, exceeded the $114 million raised in August.

September's donations came from 1.8 million Americans, more than a third of whom were donating for the first time.

The average contribution was $53, and all but two percent were $250 or less.

The Obama campaign receives most of its donations from individuals limited to $2,500 while the Romney campaign relies more heavily from “Super PACs” with no upper limit.

As of September 21, according to a Washington Post tally, Obama raised $441 million from individuals and $44 million from Super PACs.

Romney raised $284 million from individuals and $145 million from Super PACs.

The national committees of the Democratic and Republican parties raised $233 million and $283 million respectively.