The former president, Donald Trump’s political operation, announced a staggering $50.5 million fundraising haul from a Saturday event in Florida, as it seeks to bridge the financial gap with President Joe Biden and the Democratic Party. This sum, raised in collaboration with the Republican National Committee (RNC), significantly outshines the $26 million recently collected by Biden at a high-profile New York City event featuring former Presidents Bill Clinton and Barack Obama.
The funds, raised at the “Inaugural Leadership Dinner” held at billionaire investor John Paulson’s Palm Beach residence, set a new record for a single fundraising event. “The message, operation, and financial backing to propel President Trump to victory on November 5 are clearer than ever,” stated Trump campaign senior advisers Chris LaCivita and Susie Wiles.
Trump, accompanied by his wife Melania, expressed his gratitude before the event, stating, “This has been an incredible evening before it even starts because people want to contribute to the cause of making America great again.”
The private event indicates that some of the GOP’s most affluent donors are rallying behind Trump as the general election face-off with Biden intensifies. Wealthy GOP figures, including hedge fund billionaire Robert Mercer and his daughter Rebekah, oil tycoon Harold Hamm, hotelier and space entrepreneur Robert Bigelow, and casino mogul Steve Wynn, were listed as event “co-chairs,” according to an invitation obtained by CNN.
However, Trump has a significant fundraising gap to bridge. Biden and the Democratic Party announced raising over $90 million in March, entering April with approximately $192 million in their war chest. In contrast, the Trump campaign and the RNC reported a combined $65.6 million in March, ending the month with $93.1 million in cash on hand.
The Palm Beach fundraiser collected money for the Trump 47 Committee, a joint fundraising operation that includes Trump’s campaign, the RNC, and state party committees. It also benefited a leadership PAC that has underwritten Trump’s personal legal bills and is part of the joint fundraising agreement.
Meanwhile, Biden’s team has emphasized its early fundraising advantage, which has helped build a campaign infrastructure in key battleground states, including opening over 100 new campaign offices. The team also highlighted its grassroots fundraising operation as a tool that can sustain the president’s campaign through the long haul of the general election, with 96% of its first-quarter donations being under $200.
Jaime Harrison, the chairman of the Democratic National Committee, contrasted the two campaigns, stating, “While Donald Trump has been busy awarding himself golf trophies at Mar-a-Lago and palling around with billionaires, Joe Biden has been crisscrossing the nation connecting with voters and outlining his vision to grow our economy from the bottom up and the middle out. That’s why Democrats are earning record-breaking support from grassroots donors, like nurses and teachers, who are fired up to reelect President Biden, Vice President [Kamala] Harris, and Democrats up and down the ballot.”