President Donald Trump raised $24.8 million in the less-than 24 hours after kicking off his re-election campaign.

The staggering sum was announced in a tweet on Wednesday morning by Republican Party Chairwoman Ronna McDaniel. It dwarfs what the top Democratic contenders in the 2020 White House primary raised over the course of the first three months of this year.

It's a demonstration of the power of incumbency, underscoring Democratic worries they are not doing enough to prepare for the matchup with Trump.

Trump already reported $48.7 million cash on hand at the end of March, spread across three committees tied to his campaign. The Republican National Committee had an additional $34.7 million during the same period.

The Democratic National Committee had just $7.5 million with $6.2 million in debt.

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