Figures released by Sen. Ted Cruz's campaign show that as the last quarter ended, the Texas senator may have had more money in the bank than any other GOP presidential candidate, The Washington Post
With a total of $26.5 million raised during the campaign so far, his staff noted that Cruz will report $13.5 million in cash on hand - meaning he spent about 51 percent of what came in. However, the Post notes that compared to some of his competitors, Cruz's burn rate – the rate in which you spend money – is low:
- Florida Sen. Marco Rubio spent 81 percent of the money raised,
- Ben Carson spent 64 percent and
- Sen. Rand Paul spent $2 for every $1 donated.
Former Fla. Gov. Jeb Bush has not released his latest financials, and GOP frontrunnner Donald Trump is self-financing his campaign.
Cruz's campaign manager Jeff Roe noted that they have focused on a high-tech $8 million fundraising effort that uses data analytics and a technique called "donor modeling." The result, he said, raised $18 million.
According to the Washington Post, Kenneth Gross, a former deputy counsel to the Federal Election Commission, said Cruz's donor list consists of "a significant base of names," and having "donor lists is an extremely valuable asset to a campaign."
Other fundraising techniques include traditional direct mail, and of course Cruz's wife, Heidi, who is campaigning and calling on donors to give. Currently, the campaign has spent $1.1 million on mail, getting about $2.7 million in return and Heidi aims to make 30 phone calls each day to top donors.
"The calls that I’m making are to max out donors. Max out and super PAC," she said.
The Post notes that Cruz is notorious for touting his fundraising totals on the campaign trail.
"In just over six months, we’ve raised 26.5 million from over 350,000 contributions," Cruz told a crowd in Fort Dodge, Iowa, Monday.
"That’s the power of the grassroots. So I believe that our momentum is steadily growing."
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