(NewsNation) — Money is a factor that can make or break political campaigns in the U.S. While policy positions and connecting with voters are important in a run for the White House, having cash on hand can ultimately be the lifeblood of a presidential race.

When it comes to personal wealth, who are the richest 2024 presidential candidates? Donald Trump, Vivek Ramaswamy, Dean Phillips, Robert F. Kennedy Jr. and Joe Biden take the top five spots.

From Top to bottom, left to right: Donald Trump, Vivek Ramaswamy, Joe Biden, Nikki Haley, Gov. Ron DeSantis and Robert Kennedy Jr.

The Billionaire Candidates

Donald Trump’s Empire

The former president has a net worth of $2.6 billion, according to a Forbes estimate from Sept. 2023.

In a breakdown of his assets, the outlet said Trump has $640 million in cash and personal assets, $690 million in New York City real estate, $190 million in non-New York City real estate, $870 million in golf clubs and resorts, and $160 million in social media and brand business.

*FILE – Former President Donald Trump speaks at Mar-a-lago on Election Day, Nov. 8, 2022, in Palm Beach, Fla. (AP Photo/Andrew Harnik, File)*

Vivek Ramaswamy’s Self-Made Fortune

The entrepreneur’s net worth reached $1 billion at one point in August 2023, making him one of the 20 youngest billionaires in the U.S. But a drop in the market reportedly pushed him under the billion-dollar threshold, and he has an estimated net worth of more than $950 million.

Ramaswamy founded Roivant Sciences, which he stepped down as CEO from in 2021. The company is worth more than $7 billion.

The Harvard graduate also created Strive Asset Management, which has been described as an “anti-woke investment fund.”

Editor’s Note: Vivek Ramaswamy dropped out of the presidential race after the Iowa caucuses and endorsed former President Donald Trump.

SIOUX CITY, IOWA – JANUARY 08: Republican presidential candidate businessman Vivek Ramaswamy greets attendees to a campaign stop at the Hampton Inn & Suites Sioux City South on January 08, 2024 in Sioux City, Iowa. A snowstorm has altered the schedules of several Republican candidates in Iowa, a state where Republicans will be the first to select their party’s nomination for the 2024 presidential race when they go to caucus on January 15, 2024. (Photo by Joe Raedle/Getty Images)

Democratic Contenders

Joe Biden‘s Net Worth

The president is worth an estimated $10 million, which is up from $8 million when he first took office, Forbes reports.

The outlet said Biden is making money by sitting on real estate like his Rehoboth Beach summer home worth an estimated $4.5 million, now more than $1.7 million more than its original cost.

*US President Joe Biden and First Lady Jill Biden walk on the beach in Rehoboth Beach, Delaware, on October 22, 2023. (Photo by Kent NISHIMURA / AFP) (Photo by KENT NISHIMURA/AFP via Getty Images)*

Marianne Williamson’s Financial Journey

The author and spiritual teacher is said to be worth around $2.5 million.

The 71-year-old Texas native served as a former spiritual adviser to Oprah Winfrey, has written 15 books and co-founded The Peace Alliance.

Editor’s note: Marianne Williamson has ended her presidential primary bid. She suspended her campaign Feb. 7.

Dean Phillips

Phillips is considered one of the wealthiest members of Congress with an economic disclosure filing posted by Axios showing an estimated net worth between $20.5 million and $70 million.

The Minnesota congressman is heir to his stepfather’s Phillips Distilling Company empire. He was CEO until 2012 until he resigned. He later went on to run gelato maker Talenti and co-found Penny’s Coffee in the Twin Cities.

*Rep. Dean Phillips (D-Minn.) addresses reporters during a press conference on Wednesday, June 15, 2022 to discuss the Lower Food and Fuel Costs Act. (Greg Nash)*

Cenk Uygur

The progressive media host’s net worth is reportedly estimated at $5-10 million.

As the co-creator of “The Young Turks,” the online show is a major source of his money and has helped him build his net worth.

Uygur announced his White House run in October 2023.

*NEW YORK, NEW YORK – SEPTEMBER 21: Cenk Uygur visits SiriusXM Studios on September 21, 2023 in New York City. (Photo by Dia Dipasupil/Getty Images)*

Republican Rivals

Nikki Haley’s Wealth

The former South Carolina governor reportedly has a net worth of $8 million. She had a net worth of $1 million when she resigned as Trump’s United Nations ambassador in 2018.

At the time, she told Trump in her resignation letter: “I expect you will appreciate my sense that returning from government to the private sector is not a step down but a step up.”

In 2022, she raked in at least $2.3 million for speeches, $700,000 in consulting fees and $300,000 in cash and stock from Boeing.

Editor’s Note: Nikki Haley dropped out of the presidential race after Super Tuesday.

Former United Nations Ambassador Nikki Haley speaks during the Conservative Political Action Conference (CPAC) at the Gaylord National Resort and Convention Center in National Harbor, Md., on Friday, March 3, 2023.

Ron DeSantis and His Earnings

According to a state disclosure filing, the Florida governor is worth more than $1.17 million.

Last year, his salary as governor was reportedly more than $140,000 and he received a hefty advance to write his second book.

Editor’s Note: Ron DeSantis dropped out of the race before the New Hampshire primary and endorsed former President Donald Trump. Read more here.

FILE - Republican presidential candidate and Florida Gov. Ron DeSantis speaks at an annual Basque Fry at the Corley Ranch in Gardnerville, Nev., Saturday, June 17, 2023. The mother of a transgender girl sobbed in federal court Wednesday, Dec. 13, 2023, as she contemplated having to move away from her Navy officer husband to get health care for her 12-year-old if Florida's ban on gender dysphoria treatments for minors is allowed to take affect. (AP Photo/Andy Barron, File) — FILE – Republican presidential candidate and Florida Gov. Ron DeSantis speaks at an annual Basque Fry at the Corley Ranch in Gardnerville, Nev., Saturday, June 17, 2023. The mother of a transgender girl sobbed in federal court Wednesday, Dec. 13, 2023, as she contemplated having to move away from her Navy officer husband to get health care for her 12-year-old if Florida’s ban on gender dysphoria treatments for minors is allowed to take affect. (AP Photo/Andy Barron, File)

Asa Hutchinson’s Net Worth

The former governor of Arkansas has a net worth of $1.5 million, Forbes reports. The outlet says most of Hutchinson’s wealth is tied up in his home along with his pensions.

Editor’s note: Hutchinson suspended his presidential campaign after the Iowa caucuses.

FILE - Republican presidential candidate former Arkansas Gov. Asa Hutchinson speaks at the Republican Party of Iowa's 2023 Lincoln Dinner in Des Moines, Iowa, Friday, July 28, 2023. (AP Photo/Charlie Neibergall, File) — FILE – Republican presidential candidate former Arkansas Gov. Asa Hutchinson speaks at the Republican Party of Iowa’s 2023 Lincoln Dinner in Des Moines, Iowa, Friday, July 28, 2023. (AP Photo/Charlie Neibergall, File)

Independent Prospects

Robert F. Kennedy Jr.’s Fortune

Though he shares the prosperous Kennedy name, Forbes estimates Robert F. Kennedy Jr.’s net worth to be about $15 million.

That figure includes the assets of his spouse actress Cheryl Hines, his shares in the Kennedy trusts, his real estate and investments.

MIAMI, FLORIDA – OCTOBER 12: Independent presidential candidate Robert F. Kennedy Jr. speaks during a campaign event “Declare Your Independence Celebration” at Adrienne Arsht Center for the Performing Arts of Miami-Dade County on October 12, 2023 in Miami, Florida. Miami is the first stop of three that Robert F. Kennedy Jr. will do in Florida with his Declare Your Independence Celebration event, announcing that he dropped his Democratic bid for president and will run as an independent candidate. (Photo by Eva Marie Uzcategui/Getty Images)

Cornel West’s Net Zero Net Worth

The professor and political activist reportedly has a net worth of near zero. He told Forbes last year, “I live paycheck to paycheck.”

FILE - Harvard Professor Cornel West speaks at a campaign rally for Democratic presidential candidate Sen. Bernie Sanders, I-Vt., at the Whittemore Center Arena at the University of New Hampshire, Feb. 10, 2020, in Durham, N.H. West says he will run for president in 2024 as third-party candidate. (AP Photo/Andrew Harnik, File) — FILE – Harvard Professor Cornel West speaks at a campaign rally for Democratic presidential candidate Sen. Bernie Sanders, I-Vt., at the Whittemore Center Arena at the University of New Hampshire, Feb. 10, 2020, in Durham, N.H. West says he will run for president in 2024 as third-party candidate. (AP Photo/Andrew Harnik, File)

Analysis: How do the candidates’ net worth compare?

So, does money matter in elections? While it can prove a candidate’s viability in early stages of a campaign and help with hefty expenses like advertising, it doesn’t always guarantee a win.

The 2024 presidential election so far has garnered roughly $269 million in fundraising for candidates, according to a NewsNation report from November. Republican candidates are spending more and raising more campaign money than Democrats, according to Federal Election Commission (FEC) filings.

When it comes to individual candidates, Trump and Biden have reportedly raised the most money, with Biden’s campaign spending the most so far.

The 2024 election cycle is projected to be the most expensive political cycle of all time, ad tracking firm AdImpact said in September 2023. While gubernatorial and congressional races are lumped into that analysis, the firm said presidential ad spending is on track to spend significantly more than during the 2020 presidential primary.