California is not lacking in political wealth, particularly in the 2024 U.S. Senate race. With less than five months to go until the March 5 primary, the top five Democratic and Republican candidates have collectively raised approximately $50 million. This sum surpasses the $40 million the state allocated this year to aid flood victims in Planada and Pajaro and equals the budget for producing insulin in the state.

The reported fundraising figures are current up to September 30. It’s important to note that candidates can now accept double the contribution amount from each donor, owing to a special election to fill the final two months of the late Senator Dianne Feinstein’s term occurring concurrently with the election for a full six-year term.

As of September 30, Democratic Representative Adam Schiff from Burbank had garnered $21.5 million since the start of the year. He also led in fundraising for this quarter and had an impressive cash reserve of $32 million, surpassing his rivals’ combined resources.

While Democratic Representative Katie Porter from Irvine reported the highest receipts, totaling $22.1 million since January 1, there’s a caveat: only $11 million of that came from donors contributing to her Senate campaign, with the remaining $11 million transferred from her congressional campaign. She had $12 million in her campaign account.

Democratic Representative Barbara Lee from Oakland struggled to keep pace, with a reported $3.2 million raised since January and $1.3 million on hand as of October 1.

Among Republican candidates, attorney Eric Early had raised the most, exceeding $540,000, which included a $67,000 loan from himself.

Key takeaways from the financial filings due on Sunday include:

1. Porter had the highest proportion of small-dollar donors, with 56% of her contributions for the quarter coming from individuals who each donated $200 or less, alongside $1,250 from political action committees. While Schiff’s total included 47% from small-dollar donors, it amounted to more actual cash at $2.8 million. He also received almost $75,000 from PACs linked to his congressional colleagues and other groups. Lee raised $342,000 from small donors, constituting 33% of her three-month total, and received $29,000 from PACs.
2. Corporate and labor funding: Lee, Schiff, and Porter have all pledged to forgo corporate PAC money and distance themselves from corporate donations this year. Schiff refunded $83,000 in contributions, including $3,300 from Stewart Resnick, the president of The Wonderful Company, which has faced scrutiny for its water usage in the state. Porter, who also vowed to reject federal lobbyist money, refunded $24,000 in contributions, including $3,300 from Kaya Singleton, the director of federal government relations at tax preparation firm H&R Block.
3. Schiff, who has garnered endorsements from seven statewide labor unions, received $17,500 in the third quarter from PACs associated with the International Association of Fire Fighters, International Brotherhood of Electrical Workers, and the International Longshore and Warehouse Union. Lee and Porter did not receive union PAC contributions.
4. Digital ad spending: Schiff expended $1.6 million in the quarter exclusively on digital advertisements highlighting his labor union endorsements and his role in the first impeachment trial against former President Donald Trump. Porter’s campaign allocated $788,100 for advertising on social media platforms, focusing on her commitment to combat corporate interests and her background as a teacher.