Tech entrepreneur and universal basic income advocate Andrew Yang raised $10 million in the third quarter of 2019, his presidential campaign said Wednesday, a drastic increase from his fundraising in the first six months of the year that puts the political newcomer ahead of experienced politicians in the primary field.
From July through September, Yang raised more than double what he did in the first six months of the year: $1.8 million in the first quarter and $2.8 million in the second quarter. The campaign said that it has $6.3 million in cash on hand that it plans to use on campaign offices and staff in early primary and caucus states.
Yang’s haul surpassed that of New Jersey Sen. Cory Booker, who raised $6 million during the third quarter of the year, and close behind California Sen. Kamala Harris, who raised $11 million during the same quarter.
“Andrew Yang is the only contender showing exponential growth in the third quarter, more than tripling his fundraising number from last quarter,” campaign manager Zach Graumann said in a statement. “This grassroots fundraising total, with over $6m in the bank, ensures this campaign will have the funding to compete and outperform expectations through Super Tuesday and beyond.”
Yang centers his campaign on his plan to provide a no-strings-attached “freedom dividend” of $1,000 per month to every citizen in the United States, also known as universal basic income, in order to combat a changing economy threatened by technical automation.
During the September Democratic primary debate, Yang announced a raffle to give 10 people $1,000 per month for a year, paid from his presidential campaign account. Some campaign finance experts believe that the gimmick may violate federal law, but because the Federal Election Commission lacks a quorum of board members, it is not in a position to settle the issue.
Yang has risen in popularity in recent months. In one outlier Emerson poll of likely Democratic primary voters in California, Yang was in fourth place with 8%, ahead of Harris and South Bend, Indiana, Mayor Pete Buttigieg. In RealClearPolitics‘ current average of presidential primary polls, Yang is in sixth place with a 3.6% average.
