Yang's 257% fundraising surge blows away other Dem candidates

As Democratic presidential candidates continue to report third-quarter fundraising numbers, one candidate is experiencing a seismic shift in momentum that dwarfs his competitors.

Unlike former Vice President Joe Biden, Senator Kamala Harris and Mayor Pete Buttigieg, who all saw their fundraising totals fall in dollar amount from their second-quarter hauls, 2020 hopeful and entrepreneur Andrew Yang nearly tripled the cash his campaign brought in.

At a 257% quarterly jump from $2.8 million to $10 million in the third quarter, Yang posted the largest percentage gain in fundraising among all Democrats to report so far, and even topped the 19% quarterly gain by President Donald Trump’s re-election campaign.

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Andrew Yang at the Democratic Debate
NBC NEWS ELECTION COVERAGE -- The First Democratic Debate -- Pictured: Andrew Yang at The Knight Concert Hall, Miami Florida on Thursday, June 27, 2019-- (Photo by: Gustavo Cabellero /NBC News/MSNBC/Telemundo)
Democratic presidential hopeful US entrepreneur Andrew Yang speaks to the press in the Spin Room after participating in the second Democratic primary debate of the 2020 presidential campaign season hosted by NBC News at the Adrienne Arsht Center for the Performing Arts in Miami, Florida, June 27, 2019. (Photo by JIM WATSON / AFP) (Photo credit should read JIM WATSON/AFP/Getty Images)
NBC NEWS ELECTION COVERAGE -- The First Democratic Debate -- Pictured: (l-r) Marianne Williamson, John Hickenlooper, Andrew Yang, Pete Buttigieg, Joe Biden, Bernie Sanders, Kamala Harris, Kirsten Gillibrand, Michael Bennet, Eric Swalwelat at The Knight Concert Hall, Miami Florida on Thursday, June 27, 2019-- (Photo by: Gustavo Cabellero /NBC News/MSNBC/Telemundo)
Democratic presidential hopefuls (L-R) US author and writer Marianne Williamson, Former Governor of Colorado John Hickenlooper and US entrepreneur Andrew Yang participate in the second Democratic primary debate of the 2020 presidential campaign season hosted by NBC News at the Adrienne Arsht Center for the Performing Arts in Miami, Florida, June 27, 2019. (Photo by SAUL LOEB / AFP) (Photo credit should read SAUL LOEB/AFP/Getty Images)
MIAMI, FLORIDA - JUNE 27: Democratic presidential candidates (L-R) Marianne Williamson, former Colorado governor John Hickenlooper, former tech executive Andrew Yang, South Bend, Indiana Mayor Pete Buttigieg, former Vice President Joe Biden, Sen. Bernie Sanders (I-VT), and Sen. Kamala Harris (D-CA) take part in the second night of the first Democratic presidential debate on June 27, 2019 in Miami, Florida. A field of 20 Democratic presidential candidates was split into two groups of 10 for the first debate of the 2020 election, taking place over two nights at Knight Concert Hall of the Adrienne Arsht Center for the Performing Arts of Miami-Dade County, hosted by NBC News, MSNBC, and Telemundo. (Photo by Drew Angerer/Getty Images)
Democratic presidential candidate Andrew Yang speaks during the second night of the first Democratic presidential debate on Thursday, June 27, 2019, at the Arsht Center for the Performing Arts in Miami. (Al Diaz/Miami Herald/TNS via Getty Images)
MIAMI, FLORIDA - JUNE 27: Democratic presidential candidate former tech executive Andrew Yang greets members of the audience after the second night of the first Democratic presidential debate on June 27, 2019 in Miami, Florida. A field of 20 Democratic presidential candidates was split into two groups of 10 for the first debate of the 2020 election, taking place over two nights at Knight Concert Hall of the Adrienne Arsht Center for the Performing Arts of Miami-Dade County, hosted by NBC News, MSNBC, and Telemundo. (Photo by Drew Angerer/Getty Images)
MIAMI, FLORIDA - JUNE 27: Democratic presidential candidates (L-R) Marianne Williamson, former Colorado governor John Hickenlooper, former tech executive Andrew Yang, South Bend, Indiana Mayor Pete Buttigieg, former Vice President Joe Biden, Sen. Bernie Sanders (I-VT), Sen. Kamala Harris (D-CA), Sen. Kirsten Gillibrand (D-NY), Sen. Michael Bennet (D-CO) and Rep. Eric Swalwell (D-CA) take part in the second night of the first Democratic presidential debate on June 27, 2019 in Miami, Florida. A field of 20 Democratic presidential candidates was split into two groups of 10 for the first debate of the 2020 election, taking place over two nights at Knight Concert Hall of the Adrienne Arsht Center for the Performing Arts of Miami-Dade County, hosted by NBC News, MSNBC, and Telemundo. (Photo by Drew Angerer/Getty Images)
MIAMI, FLORIDA - JUNE 27: former tech executive Andrew Yang speaks as South Bend, Indiana Mayor Pete Buttigieg look on during the second night of the first Democratic presidential debate on June 27, 2019 in Miami, Florida. A field of 20 Democratic presidential candidates was split into two groups of 10 for the first debate of the 2020 election, taking place over two nights at Knight Concert Hall of the Adrienne Arsht Center for the Performing Arts of Miami-Dade County, hosted by NBC News, MSNBC, and Telemundo. (Photo by Drew Angerer/Getty Images)
MIAMI, FLORIDA - JUNE 27: Former tech executive Andrew Yang reacts during the second night of the first Democratic presidential debate on June 27, 2019 in Miami, Florida. A field of 20 Democratic presidential candidates was split into two groups of 10 for the first debate of the 2020 election, taking place over two nights at Knight Concert Hall of the Adrienne Arsht Center for the Performing Arts of Miami-Dade County, hosted by NBC News, MSNBC, and Telemundo. (Photo by Drew Angerer/Getty Images)
MIAMI, FLORIDA - JUNE 27: Democratic presidential candidate former tech executive Andrew Yang speaks during the second night of the first Democratic presidential debate on June 27, 2019 in Miami, Florida. A field of 20 Democratic presidential candidates was split into two groups of 10 for the first debate of the 2020 election, taking place over two nights at Knight Concert Hall of the Adrienne Arsht Center for the Performing Arts of Miami-Dade County, hosted by NBC News, MSNBC, and Telemundo. (Photo by Drew Angerer/Getty Images)
MIAMI, FLORIDA - JUNE 27: Former tech executive Andrew Yang reacts during the second night of the first Democratic presidential debate on June 27, 2019 in Miami, Florida. A field of 20 Democratic presidential candidates was split into two groups of 10 for the first debate of the 2020 election, taking place over two nights at Knight Concert Hall of the Adrienne Arsht Center for the Performing Arts of Miami-Dade County, hosted by NBC News, MSNBC, and Telemundo. (Photo by Drew Angerer/Getty Images)
Democratic presidential hopeful US entrepreneur Andrew Yang speaks in the second Democratic primary debate of the 2020 presidential campaign season hosted by NBC News at the Adrienne Arsht Center for the Performing Arts in Miami, Florida, June 27, 2019. (Photo by SAUL LOEB / AFP) (Photo credit should read SAUL LOEB/AFP/Getty Images)
Democratic presidential hopefuls US entrepreneur Andrew Yang (L) and Mayor of South Bend, Indiana Pete Buttigieg (R) participate in the second Democratic primary debate of the 2020 presidential campaign season hosted by NBC News at the Adrienne Arsht Center for the Performing Arts in Miami, Florida, June 27, 2019. (Photo by SAUL LOEB / AFP) (Photo credit should read SAUL LOEB/AFP/Getty Images)
MIAMI, FLORIDA - JUNE 27: (L-R) Democratic presidential candidates former tech executive Andrew Yang, South Bend, Indiana Mayor Pete Buttigieg, former Vice President Joe Biden, Sen. Bernie Sanders (I-VT) and Sen. Kamala Harris (D-CA) take the stage for the second night of the first Democratic presidential debate on June 27, 2019 in Miami, Florida. A field of 20 Democratic presidential candidates was split into two groups of 10 for the first debate of the 2020 election, taking place over two nights at Knight Concert Hall of the Adrienne Arsht Center for the Performing Arts of Miami-Dade County, hosted by NBC News, MSNBC, and Telemundo. (Photo by Drew Angerer/Getty Images)
MIAMI, FLORIDA - JUNE 27: (L-R) Democratic presidential candidates former tech executive Andrew Yang, South Bend, Indiana Mayor Pete Buttigieg, former Vice President Joe Biden and Sen. Bernie Sanders (I-VT) take the stage for the second night of the first Democratic presidential debate on June 27, 2019 in Miami, Florida. A field of 20 Democratic presidential candidates was split into two groups of 10 for the first debate of the 2020 election, taking place over two nights at Knight Concert Hall of the Adrienne Arsht Center for the Performing Arts of Miami-Dade County, hosted by NBC News, MSNBC, and Telemundo. (Photo by Joe Raedle/Getty Images)
MIAMI, FLORIDA - JUNE 26: Democratic presidential candidate Andrew Yang speaks to media outside the Knight Concert Hall of the Adrienne Arsht Center for the Performing Arts of Miami-Dade County June 26, 2019 in Miami, Florida. A field of 20 Democratic presidential candidates was split into two groups of 10 for the first debate of the 2020 election, taking place over two nights at Knight Concert Hall of the Adrienne Arsht Center for the Performing Arts of Miami-Dade County, hosted by NBC News, MSNBC, and Telemundo. Yang is participating in the second night's debate. (Photo by Joe Raedle/Getty Images)
MIAMI, FLORIDA - JUNE 26: Democratic presidential candidate Andrew Yang speaks to media outside the Knight Concert Hall of the Adrienne Arsht Center for the Performing Arts of Miami-Dade County June 26, 2019 in Miami, Florida. A field of 20 Democratic presidential candidates was split into two groups of 10 for the first debate of the 2020 election, taking place over two nights at Knight Concert Hall of the Adrienne Arsht Center for the Performing Arts of Miami-Dade County, hosted by NBC News, MSNBC, and Telemundo. Yang is participating in the second night's debate. (Photo by Joe Raedle/Getty Images)
MIAMI, FLORIDA - JUNE 26: Democratic presidential candidate Andrew Yang speaks to media outside the Knight Concert Hall of the Adrienne Arsht Center for the Performing Arts of Miami-Dade County June 26, 2019 in Miami, Florida. A field of 20 Democratic presidential candidates was split into two groups of 10 for the first debate of the 2020 election, taking place over two nights at Knight Concert Hall of the Adrienne Arsht Center for the Performing Arts of Miami-Dade County, hosted by NBC News, MSNBC, and Telemundo. Yang is participating in the second night's debate. (Photo by Joe Raedle/Getty Images)
Democratic presidential candidate entrepreneur Andrew Yang, center, speaks during the Democratic primary debate hosted by NBC News at the Adrienne Arsht Center for the Performing Art, Thursday, June 27, 2019, in Miami, as South Bend Mayor Pete Buttigieg, right, and former Colorado Gov. John Hickenlooper, left, listen. (AP Photo/Wilfredo Lee)
Democratic presidential candidate entrepreneur Andrew Yang, right, speaks during the Democratic primary debate hosted by NBC News at the Adrienne Arsht Center for the Performing Arts, Thursday, June 27, 2019, in Miami, as former Colorado Gov. John Hickenlooper listens. (AP Photo/Wilfredo Lee)
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To be fair, any increase from a relatively smaller starting amount, like Yang’s $2.8 million, will manifest in a rather outlandish percentage gain. The same, for example, could be said about author and 2020 candidate Marianne Williamson’s 100% spike to hit $3 million in third-quarter funding — an amount she first shared with Yahoo Finance. But at $10 million, Yang quietly just moved into the so-called top tier of candidates for the first time. It’s just $1 million shy of the amount Harris’ campaign brought in over the same quarter.

Entrepreneur and 2020 hopeful Andrew Yang led all Democratic candidates in terms of the largest percent gain in fundraising from the second quarter to third quarter. So far, Sen. Bernie Sanders has raised the most on a dollar basis at $25 million.

“This grassroots fundraising total, with more than $6 million in the bank, ensures this campaign will have the funding to compete and outperform expectations through Super Tuesday and beyond,” Zach Graumann, Yang’s campaign manager, told the New York Times.

Yet, while the monetary victory is no doubt a giant shift in momentum for Yang’s campaign — it hasn’t yet been matched by an as large of a jump in Yang’s polling. While his 3% polling is a large jump from the 1% in months past, according to a Real Clear Politics national average, it’s still not enough to top Buttigieg or Harris in the so-called second tier of polling positions. Senators Elizabeth Warren and Bernie Sanders, along with Biden are currently in a polling league of their own as the only candidates to each top 15% on a national level.

From left, Democratic presidential candidates Sen. Amy Klobuchar, D-Minn., Sen. Cory Booker, D-N.J., South Bend Mayor Pete Buttigieg, Sen. Bernie Sanders, I-Vt., former Vice President Joe Biden, Sen. Elizabeth Warren, D-Mass., Sen. Kamala Harris, D-Calif., entrepreneur Andrew Yang, former Texas Rep. Beto O'Rourke and former Housing Secretary Julian Castro are introduced for the Democratic presidential primary debate hosted by ABC on the campus of Texas Southern University Thursday, Sept. 12, 2019, in Houston. (AP Photo/Eric Gay)

However, with the fourth Democratic debate fast approaching on October 15, Yang will look to build on the momentum he established with his last performance, in which he doubled down on his so-called “Freedom Dividend” by announcing a $120,000 annual cash giveaway for 10 lucky families.

With $6 million in cash on hand, Yang now has a bit more cash to throw around.

Zack Guzman is the host of YFi PM as well as a senior writer and on-air reporter covering entrepreneurship, cannabis, startups, and breaking news at Yahoo Finance. Follow him on Twitter @zGuz.

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