RICHMOND, Va. (WRIC) – Virginia’s statewide elections are still months away, but the money pouring in and out of the campaigns have quashed the idea of any sort of lull in the governor’s race.
Fundraising totals from the gubernatorial candidates surpassed $11 million in June. In total, the candidates in this year’s race have raised nearly $40 million.
Democrat Terry McAuliffe, the former governor seeking a second term, raised a little over $7.5 million during the last filing period from May 28 to June 30, campaign finance reports show. Glenn Youngkin, the Republican candidate in the race, brought in nearly $3.6 million in that span.
While McAuliffe’s haul in June was more than double what Youngkin raised, their campaigns have reported similar fundraising totals.
Youngkin, who won the GOP gubernatorial nomination in May, has raised more than $19.5 million, according to campaign finance disclosures filed with the state. Youngkin, a former executive at the private equity firm Carlyle Group with a reported net worth of over $300 million, has loaned his own campaign $12 million but not during this last reporting period.
The cash McAuliffe has brought in at this point of the election cycle has broken previous fundraising records for a Virginia governor’s race, according to his campaign. Coming into this election cycle with $5.5 million, the money McAuliffe’s campaign reported in the latest filing period has taken his total to more than $20 million.
McAuliffe has a significant advantage in cash on hand, with more than $9 million compared to Youngkin’s $2.6 million.
Princess Blanding, the independent candidate running under the newly formed Liberation Party, reported nearly $1,400 in contributions in June and now has almost $8,000 in cash on hand. Blanding’s campaign has raised over $20,000, according to finance reports filed with the Virginia Department of Elections.
Campaign finance reports provide a peek into how much each candidate has raised and the cash they have on hand. But they also reveal who is donating to the campaigns and how those campaigns are spending the money.
While McAuliffe’s campaign has touted the contributions under $100 in the latest reporting period — more than 12,000 for a total of $320,855 — the former governor also raked in large donations from organized labor groups and political action committees.
The Democratic Governors Association gave McAuliffe $2 million, the former governor’s largest single donation during the latest reporting period, the day after McAuliffe secured the nomination in the state primary.
Last month, McAuliffe received $500,000 from the Service Employees International Union’s political action committee, $400,000 from the American Federation of State, County and Municipal Employees and $400,000 from the National Education Association Fund for Children & Public Education PAC.
Youngkin’s campaign got a $500,000 contribution from the Republican Governors Association Right Direction PAC on June 7 but his other top donors this reporting period were individuals.
Paul B. Manning, the chairman and CEO of PBM Capital, gave $100,000 to Youngkin’s campaign on June 11. The GOP candidate also received $100,000 from investor Michael A. Adams and $100,000 each from Kenny Troutt, the founder of Excel Communications, and his wife Lisa Troutt.