US presidential candidates Donald Trump and Kamala Harris spent a record amount on their election campaigns: $3.5 billion.
Oku.Az reports that Britain’s “Financial Times” (FT) newspaper published a news story about it.
According to the publication’s calculations, this makes the current presidential race in the United States the most expensive election in history.
Harris reportedly raised more than $2.3 billion in campaign funds and spent $1.9 billion of it.
The former head of the White House raised $1.8 billion and spent $1.6 billion.
More than half of these funds were spent on media, Internet, and street advertising in American cities (especially swing states). Operating and administrative expenses were the second-largest spending item for both candidates: just under $250 million for Harris and nearly $200 million for Trump.
The publication notes that during Trump’s campaign, about 14% of all funds (more than $100 million) went to the former president’s legal expenses.
The candidates’ campaigns are financed with personal and partisan funds, individual donations and various support funds (Political Action Committees – PACs).
According to the American non-profit organization “OpenSecrets”, presidential election expenses amounted to $3.58 billion in 2012, $3.12 billion in 2016 and $7.71 billion in 2020.
