Kamala Harris Continues to Make History

Reuters reported yesterday that the Democratic Party has begun online voting to choose its presidential candidate, with the outcome likely confirming Vice President Kamala Harris. Her official selection will mark a new milestone in American history, as she becomes the first woman of color to be a presidential candidate for one of the two major parties in the United States.

Voting Process
According to the Democratic National Committee (DNC), the party expedited the online voting process, which takes place from August 1-5, as Harris was the only candidate to qualify during the registration phase, CBS News reported.

On July 30, Vice President Harris received the endorsement of approximately 3,900 of nearly 4,000 delegates. During the online voting phase, she only needs 1,976 votes to represent the Democratic Party in the election against former President Donald Trump, the Republican candidate.

Nearly 4,000 delegates received ballots via email. Ballots can be returned before the 6 PM deadline on August 5, or delegates can wait for a call from the DNC to submit their decision. The DNC will announce the final results once all responses are collected. It's unclear if the DNC will make an early announcement if Harris secures the necessary 1,976 votes before the deadline.

In parallel, the selection process for Harris's vice-presidential running mate is in its final stages. As of yesterday, the DNC had not made a final decision. However, American voters will soon know her running mate's identity, as the Democratic campaign announced that Harris and her running mate would begin campaigning in seven key battleground states on August 6.

The campaign will visit Philadelphia (Pennsylvania), Eau Claire (Wisconsin), Detroit (Michigan), the Research Triangle (North Carolina), Savannah (Georgia), Phoenix (Arizona), and Las Vegas (Nevada).

Trump's Wealth Drops Nearly $1 Billion

On the Republican side, former President Trump's campaign announced a rally in Bozeman, Montana, on August 9. Montana is a key battleground in the Senate race between Democratic Senator Jon Tester and Trump-endorsed Navy SEAL veteran Tim Sheehy.

Trump's campaign reported raising $138.7 million in July, with $327 million in cash on hand. Harris's campaign, on the other hand, raised $310 million in July—double Trump's amount—and had $377 million in cash at month's end, Reuters reported.

Separately, Trump's net worth has dropped by $900 million since Harris entered the presidential race. CNN reported that the value of Trump's shares in Trump Media & Technology Group, the parent company of Truth Social, fell by $900 million since July 21. The company's stock price has dropped by approximately 23%, including a significant decline on August 1, amid a tech stock sell-off on Wall Street.

Trump's stake value has decreased from over $4 billion on July 19 to $3.1 billion on August 1. The sell-off in Trump Media & Technology Group's shares occurred after national and battleground state polls showed a tight race between Trump and Harris. The company's stock has become a tool for Wall Street traders to bet on Trump's prospects of returning to the White House, as Truth Social could become the media platform for the next president if Trump wins the election.