Donald Trump’s campaign announced a significant achievement, raising an impressive $50.5 million at a major fundraiser in Florida on Saturday. This event, the largest fundraiser to date, is crucial for Trump as he aims to replenish his campaign funds in his rematch against Democrat Joe Biden. Hosted at billionaire hedge fund manager John Paulson’s Palm Beach residence, the dinner will allocate some of the funds raised to a group covering Trump’s legal expenses.
Despite facing financial challenges due to mounting lawyer fees and legal payouts, Trump has retained support from notable figures like hedge-fund investor Robert Mercer, his daughter Rebekah, investor Scott Bessent, and casino mogul Phil Ruffin, who co-hosted the event. Ahead of the fundraiser, Trump remarked, “People are just wanting change. Rich people want it, poor people want it,”
While standing alongside his wife Melania Trump, who has largely refrained from participating in the campaign thus far.
Biden spokesperson Ammar Moussa, commenting on the event on social media platform X, suggested that billionaires attended Trump’s fundraiser due to tax preferences, stating, “The extremely wealthy are quite upset with Joe Biden for ensuring they contribute their fair portion.”
Sources have indicated that Trump has considered both Paulson and Bessent for the role of Treasury secretary. Paulson, in a statement on Saturday, expressed appreciation for the “overwhelming support” at the dinner, which was expected to host 100 guests, signaling enthusiasm for Trump. During the event, Trump spoke for approximately 45 minutes, addressing topics such as the economy, the southern border with Mexico, and party unity, as relayed by fundraiser George Glass, Trump’s former ambassador to Portugal.
The Republican candidate’s team emphasized that the amount raised was twice what Biden gathered last month in a star-studded fundraiser exceeding $25 million, featuring Democratic former presidents Bill Clinton and Barack Obama. However, the exact figures will not be confirmed until filings are submitted to the Federal Election Commission. It’s worth noting that campaigns sometimes inflate fundraising figures to generate momentum.
Last month, Trump’s campaign acknowledged its inability to match Biden’s fundraising totals for the year. In February, Trump’s campaign, along with a joint fundraising committee, amassed $20.3 million, whereas Biden’s re-election effort raised over $53 million during the same period.
Republican strategist Ron Bonjean noted that for Trump, sustaining fundraising momentum would be crucial and suggested a mix of large and small-dollar events to achieve this goal.