Dizzying Amounts of Money Pour Into the Biden and Trump Campaigns

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Mr. Biden’s June virtual fund-raising calendar was punctuated by major events headlined by former President Barack Obama, Senator Elizabeth Warren of Massachusetts and Senator Kamala Harris of California. But he was also hosted by leading Wall Street figures, including Hamilton E. James, the executive vice chairman of the Blackstone Group, and Hollywood titans like Jeffrey Katzenberg, the film producer.

Helping pad Mr. Biden’s recent hauls has been the fact that, as the presumptive nominee, he can raise money in tandem with the Democratic National Committee, swelling the size of checks he can accept from $2,800 during the primary to more than $620,000 now. Mr. Trump has been raising such $500,000-plus checks for months, including some at a small dinner in June that raised $10 million.

In fact, Mr. Biden’s June fund-raising haul was so large that, as the end of the month neared, a signal was received by some donors to hold their checks until July, according to two people familiar with the matter.

The sums that both campaigns took in last month were enormous historically. Mrs. Clinton did not raise $140 million until two months deeper in the cycle, in August 2016. That year, Mr. Trump never raised as much in a month as he did in June 2020. And the totals for both campaigns this June were greater than President Barack Obama and

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