This post is part of our feature on Money Winners of 2008. See all 20.

Barack Obama became the king of fund raising in 2008, having received a record amount in donations for his presidential campaign in the neighborhood of $750 million, and finishing with over $100 million in the bank. These contributions factored into a winning, grass-roots campaign strategy.

Actually he used a two-prong approach that enabled him to tap into the existing Democratic fund-raising machine attracting large donors through various traditional means, such as banquets and A-list parties. At the same time he was able to play the role of outsider and underdog to rally his grass-roots support among the young and commonly disenfranchised, handshake by handshake, and through a very adept use of the internet. The internet provided a constant source of connectivity with his followers, and allowed his team to respond to any news item with immediacy.

Now, president-elect Obama will be hoping to continue to amaze as he is tasked with guiding a devastated economy on the brink of collapse back to some semblance of equilibrium.

Continue reading Money winners of 2008: Barack Obama, king of fundraising

Money winners of 2008: Barack Obama, king of fundraising originally appeared on BloggingStocks on Mon, 15 Dec 2008 09:35:00 EST. Please see our terms for use of feeds.