Once a self-funder, Trump's new fundraising machine ramps up

[July 21, 2016]    By Michelle Conlin and and Grant Smith
 
 CLEVELAND (Reuters) - Republican presidential nominee Donald Trump, who gained popularity partly by bashing wealthy donors and vowing to fund his own campaign, raised nearly as much money in June as the campaign of Democratic rival Hillary Clinton, according to federal reports filed on Wednesday.

A woman wears a hat with a pin in support of Donald Trump near the site of the Republican National Convention in Cleveland, Ohio, U.S., July 20, 2016. REUTERS/Adrees Latif

In the first month in which the Trump campaign’s fundraising machine officially cranked up, Trump raised nearly $20 million from individual donors other than himself, as well as $2 million from donors to his joint fundraising committee with the Republican Party.

The reports also showed that Trump converted the nearly $50 million in loans he made to his campaign into donations. He has $20 million in cash in the bank.

Clinton's campaign brought in $24 million from individual donors during the same period, and a further $11.5 million from donors to her joint fundraising committee.

Trump’s new money dash was also evident at the Republican National Convention in Cleveland this week, where two Trump Super PACs - each dueling for supremacy and boasting a roster of marquee donors - held private events.

Those in the donor class backing Trump include investor Foster Friess and casino magnate Sheldon Adelson, who associates say is considering pouring as much as $100 million into helping Trump get elected.

(Reporting by Michelle Conlin and Grant Smith; Editing by Caren Bohan and Peter Cooney)

[© 2016 Thomson Reuters. All rights reserved.]

Copyright 2016 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.