In October, weeks before the 2024 election, the word was out: Vice President Kamala Harris had fundraised north of $1 billion. The haul, the New York Times reported upon breaking the news, was historic because of the short period of time, just three months, that it flooded in.

It was ultimately no use. On Tuesday, Donald Trump made history and became only the second former president to win a nonconsecutive term. After surviving two assassination attempts on the campaign trail, Trump dominated Harris in battleground states to emerge as the president-elect. And he did so with far less cash.