The Trump campaign announced a new single-event fundraising record of $50.5 million raised during a Palm Beach, Florida fundraiser, largely attended by mega-donors. This comes in the wake of President Joe Biden’s fundraising event in New York, which netted over $26 million on March 28.
The proceeds from Trump’s event are slated to support a fundraising group that has contributed to covering Trump’s legal expenses. Campaign advisors expressed confidence in Trump’s prospects, citing positive polling numbers and robust financial backing.
The fundraiser took place at the home of billionaire hedge fund manager John Paulson, where Trump briefly addressed reporters and emphasized the enthusiasm among supporters to contribute to his cause. The event was attended by Trump’s wife, Melania, as well as Paulson and his fiancée, Alina de Almeida. Trump highlighted the collective desire to “make America great again,” evident among attendees.
Trump (Credits: Reuters)
Biden’s reelection campaign, in partnership with the Democratic National Committee, reported raising over $90 million in March, with significant contributions from Biden’s March 28 event in Manhattan, featuring former Presidents Barack Obama and Bill Clinton. The Biden campaign emphasized the grassroots nature of its fundraising, with 96% of donations being under $200. Additionally, Biden’s team has expanded its campaign infrastructure with the opening of 100 new campaign offices.
Despite Trump’s fundraising success, there remains a notable financial disparity between the two candidates, with Biden and the DNC reporting $192 million-plus in cash on hand compared to Trump and the Republican National Committee’s $93.1 million. Both candidates have secured enough delegates to secure their party’s nominations.
The fundraiser co-hosts included prominent figures such as hedge-fund investor Robert Mercer and his daughter Rebekah, investor Scott Bessent, and casino mogul Phil Ruffin. Trump’s fundraising efforts are now intertwined with the RNC, with his daughter-in-law, Lara Trump serving as a co-chair. A new fundraising pact, the Trump 47 Committee, will direct funds to the Save America PAC before allocating to the RNC, with high-profile donors being asked to contribute up to $814,600 per person.
Jaime Harrison, chairman of the Democratic National Committee, criticized Trump’s fundraiser, contrasting it with Biden’s efforts to engage directly with voters. RNC co-chairs Michael Whatley and Lara Trump portrayed the record fundraising as a testament to Republican unity and support for Trump’s reelection bid.
Looking ahead, Trump faces impending legal challenges, including a criminal trial in New York scheduled to begin on April 15, along with ongoing civil judgments totaling over $500 million. Trump has consistently dismissed these legal issues as politically motivated “witch hunts.”
