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Trump’s re-election campaign says it raised $24.8 million in less than 24 hours

Click to play video: 'Trump officially launches his 2020 campaign for president'
Trump officially launches his 2020 campaign for president
WATCH: Trump officially launches his 2020 campaign for president – Jun 18, 2019

WASHINGTON — U.S. President Donald Trump raised $24.8 million in the less-than 24 hours after kicking off his re-election campaign.

The staggering sum was announced in a tweet on Wednesday morning by Republican Party Chairwoman Ronna McDaniel.

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It dwarfs what the top Democratic contenders in the 2020 White House primary raised over the course of the first three months of this year.

It’s a demonstration of the power of incumbency, underscoring Democratic worries they are not doing enough to prepare for the matchup with Trump.

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Trump already reported $48.7 million cash on hand at the end of March, spread across three committees tied to his campaign. The Republican National Committee had an additional $34.7 million during the same period.

The Democratic National Committee had just $7.5 million with $6.2 million in debt.

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