Biden raises $141 million more than Trump

Combination images of President Trump and his 2020 presidential rival Joe Biden. Photo: Sarah Silbiger/Getty Images/Alex Wong/Getty Images

Joe Biden's campaign, the Democratic National Committee and joint fundraising committees raised $466 million cash on hand, the presidential candidate's team announced late Sunday.

Why it matters: President Trump's campaign raised $325 million, his campaign communications director Tim Murtaugh announced Friday. In the spring, Biden was $187 million behind Trump and the Republican National Committee.

Driving the news: Slower spending by Biden's campaign and heavy spending by Trump's in the spring and record summer fund-raising hauls that spiked after he named Sen. Kamala Harris (D-Calif.) as his running mate contributed to the turnaround, notes the New York Times, which first reported the news.

Of note: Trump filed his 2020 re-election paperwork to the Federal Election Commission on the day he was sworn into office in January 2017.

Editor's note: This article has been updated with new details throughout.

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