Kamala Harris raises nearly $500 million

Vice President Kamala Harris has raised nearly $500 million for her White House bid in the month since President Joe Biden dropped out of the race and endorsed Harris as his replacement, NBC News reported Tuesday.

The massive windfall includes Harris’ campaign and several fundraising entities more broadly affiliated with her election effort, two sources familiar with the haul told NBC News.

Democrats expect that number to balloon to roughly $600 million by the end of August, one of those sources added.

The sum reflects the burst of enthusiasm that accompanied Harris’ ascension to the top of the Democratic ticket after Biden ended his campaign against Republican former President Donald Trump on July 21.

The 81-year-old incumbent’s campaign was derailed by growing concerns about his fitness to serve another four-year term, following his disastrous debate with Trump in late June. That debate performance reportedly spooked donors and led to a major slowdown in fundraising.

The switch to Harris reversed that trend. The vice president’s political operation raised $310 million in July alone, with more than $200 million of that sum coming in after Biden’s withdrawal.

The Harris team entered August with $377 million cash on hand, exceeding the $327 million held by Trump’s operation at the time.

This is a developing story, please check back for updates.