Former President Trump’s visit to San Francisco, the Democratic stronghold, was productive in many ways.
Not only did the presumptive Republican presidential nominee raise roughly $12 million at a fundraiser on Thursday night, but he also officially secured the backing of some big tech investors.
The fundraiser was hosted by Silicon Valley powerhouses and co-hosts of the popular podcast “All-In,” David Sacks and Chamath Palihapitiya.
And it was held at Sachs’ multi-million dollar mansion in San Francisco’s upscale Pacific Heights neighborhood.
Trump visits Democratic base to raise funds for election
Tickets for the sold-out event ranged from $50,000 per person for admission to $500,000 for a couple, which included special access and a photo opportunity with Trump.
Two hours before the fundraiser, Sachs formally endorsed Trump on social media.
“I donate to many but support few. But today I am endorsing our 45th President, Donald J. Trump, as our 47th President. I base my support on four main issues that I believe are essential to America’s prosperity, security, and stability. The Biden Administration has gone wildly off the rails on these issues, but I believe President Trump can get us back on track,” Sachs wrote on X.
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“Voters have experienced four years of President Trump and four years of President Biden. In the tech world, we call this A/B testing,” Sachs said.
“Trump’s record on economic policy, foreign policy, border policy and legal fairness has been excellent. He is the perfect president for a second term,” he argued.
According to a source familiar with Thursday’s fundraising dinner, Sachs reiterated his admiration for Trump and explained why he supports the Republican front-runner in a rematch against President Biden in the 2024 presidential election.
Sachs formally endorsed Trump on Thursday, but he first voiced his support for Trump in March when he met with Republican Sen. J.D. Vance of Ohio and former President Donald Trump’s eldest son, Donald Trump Jr., in Washington, D.C.
The impromptu meeting, which took place at the Conrad Hotel hours after Trump secured the Republican nomination for president in 2024 and was first reported by The New York Times and confirmed by Fox News, saw Sachs signal his full commitment to Trump’s 2024 presidential campaign.
Trump’s criminal conviction sparks fundraising surge
Vance, a Trump ally and close friend of Trump Jr. and a possible vice presidential candidate in 2024, worked for a technology hedge fund in the San Francisco area several years ago and helped secure the fundraising milestone, sources said.
“This all started with a call from J.D. Vance asking if he could host an event for President Trump. Without J.D.’s advice and encouragement, this never would have happened,” Sachs said at the fundraiser, according to a person familiar with the matter.
Trump will head south to Beverly Hills for a fundraiser on Friday and a financial event in Newport Beach, Orange County on Saturday.
Former President Trump spoke at a campaign rally in Phoenix on Thursday. (AP Photo/Rick Carter)
The visit doesn’t mean the Trump campaign thinks overwhelmingly Democratic California is a contender.
Instead, Trump’s appearance, like two sold-out fundraisers hosted by Vice President Harris in the Bay Area on Wednesday and one for President Biden in the San Francisco area last month, was the latest evidence that California remains a key ATM for campaign cash.
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The Trump campaign announced on Monday that it and the Republican National Committee (RNC) raised a staggering $141 million in May, thanks in part to the former president’s criminal conviction.
President Trump is the first former and current president in U.S. history to be convicted of all 34 felony counts at trial.
The former president’s campaign highlighted that in the first 24 hours after last week’s ruling, it and the Republican National Committee raised nearly $53 million, which was added to May’s total.
President Biden spoke at a campaign event in Philadelphia on May 29th. (Mandel Ngan/AFP via Getty Images)
The Biden campaign has also used Trump’s ruling to raise funds, with a source familiar with the matter telling Fox News that “the 24 hours after the ruling were one of the most fundraising 24 hours the Biden campaign has had since launching its campaign.”
Trump has been trying to close the fundraising gap with Biden, and in April, his campaign and the Republican National Committee outraised Biden’s campaign and the Democratic National Committee for the first time.
Fundraising, along with polls, is a key indicator of the strength of candidates and their campaigns. Money raised can be used to bolster grassroots and get-out-the-vote efforts, human resources, travel, advertising, and more.
Fox News’ Chris Pandolfo contributed to this report.
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