Former President Trump’s campaign team is currently projecting that Saturday night’s fundraiser in Palm Beach, Florida, will raise an estimated $50 million, breaking the record for any Republican or Democratic candidate.
“It took three Democratic presidents to raise $25 million and one president to raise more than $50 million, Donald J. Trump,” campaign spokesman Daniel Alvarez said. I was proud.
strong hitter
Saturday’s fundraiser was hosted by billionaire and hedge fund founder John Paulson at his private residence in Palm Beach. The 100 or so guests will include such big names as casino magnate Steve Wynn, Bigelow Aerospace founder and president Robert Bigelow, and former U.S. Secretary of Commerce Wilbur Ross.
Republican presidential candidate and former president Donald Trump speaks at an awards ceremony held at Trump International Golf Club in West Palm Beach, Florida, last month. (Joe Radle/Getty Images)
“The response to our fundraising efforts has been overwhelming, with more than $43 million raised to date,” Paulson said in a statement. “We have received tremendous support from a wide range of donors.”
The fundraiser is expected to raise tens of millions of dollars, but Trump still needs to close the gap with his Democratic rival, incumbent President Biden, who has about $192 million in cash on hand. Trump reportedly has just over $93 million.
Biden event brings in $26 million in profits
The Biden campaign announced that Biden appeared at a fundraiser at New York City’s famed Radio City Music Hall late last month with former Presidents Barack Obama and Bill Clinton, raising more than $26 million.
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The president’s reelection campaign called the money raised at the star-studded event — which set a record for a single fundraiser — “historic.”
Trump’s event, billed as the “Inaugural Leaders Dinner,” signals a return to fundraising for the former president and the Republican Party.
Trump struggled to attract large donors in the early days of his campaign, with some lining up to support other Republicans challenging him in the presidential primaries. However, Republicans solidified their support for Trump after he won easily, tied the race, and became the party’s presumptive nominee.
Laura Trump speaks at the NCGOP state convention with former President Donald Trump. (Melissa Sue Gerrits/Getty Images)
Donations to the event will come from a joint fundraising agreement with the Republican National Committee, state Republican parties, and Save America, the political action committee that pays for most of Mr. Trump’s legal costs, according to the invitation. The money will be donated to the Trump 47 Committee.
great contribution
In an unusual arrangement, the fundraising agreement requires his campaign and Save America to first contribute the maximum amount allowed by law, before the RNC and state parties get their share.
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Guests will be required to contribute $814,600 each to be a “chair” donor and $250,000 each as a “host committee” donor to have a seat at Trump’s table.
Both options come with a photo opportunity and a special copy of President Trump’s coffee table book “Our Journey Together,” which features photos from his time in the administration.
Trump’s former rivals for the Republican nomination, South Carolina Sen. Tim Scott, North Dakota Gov. Doug Burgum, and biotech entrepreneur Vivek Ramaswamy were among the “special guests.” It is expected that he will appear.
The Associated Press contributed to this report.
