Former President Donald Trump‘s 2024 campaign has gathered a staggering $50.5 million, setting a new record and outpacing the previous record of $26 million raised by President Joe Biden.
Billionaire John Paulson hosted the event, known as the “Inaugural Leadership Dinner,” in his lavish Palm Beach estate. It became the highest-grossing political fundraiser in American history.
“Tonight’s achievement is unparalleled, with $50.5 million secured for President Trump’s campaign. The outpouring of support underscores the vigorous backing for President Trump and his policies,” Paulson conveyed to The Epoch Times.
Donald Trump (Credits: The New Yorker)
The gathering attracted top Republican donors and was marked by the presence of known personalities including Robert Bigelow, Howard Lutnick, Robert Mercer, Phil Ruffin, and Steve Wynn. Alongside Trump and his wife, Melania, were former GOP candidates such as Sen. Tim Scott, Gov. Doug Burgum, and Vivek Ramaswamy.
Trump expressed his vision for America’s future at the event, emphasizing the importance of the upcoming election as a pivotal moment in the country’s history. Prior to the event, it was announced that $43 million had already been pledged towards Trump’s reelection efforts, showcasing widespread support across various donor segments.
Despite facing legal challenges, Trump’s ability to draw financial backing remains strong, with some of the GOP’s most affluent supporters rallying behind him.
Contrastingly, the Biden campaign had recently highlighted a $26 million fundraising event featuring former Presidents Bill Clinton and Barack Obama, claiming it to be the largest of its kind until Trump’s event surpassed it.
Trump (Credits: Business Standard)
March saw the Biden campaign amass $90 million, entering April with $192 million ready for use. This latest fundraiser for Trump contributes very well to the Republican war chest as part of a collaborative fundraising strategy involving Trump’s campaign, his Save America PAC, the RNC, and state Republican parties.
This latest fundraising success underscores the GOP’s unified stance against Biden’s administration, critiquing its handling of various national issues. RNC leaders expressed their collective resolve to support Trump’s reelection and the enthusiasm among Americans to join their cause.
Projections indicate that the 2024 election cycle could be the costliest yet, surpassing $10 billion in political advertising, so the stakes are higher than ever. This follows the 2020 election, which already set records with more than $6 billion spent on the presidential campaign alone, highlighting the escalating costs of U.S. political campaigns.
