Trump Campaign Says $50.5 Million Haul Doubled Biden’s Fundraiser
April 7, 2024
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Donald Trump’s campaign said it raised $50.5 million Saturday at a fundraiser in Palm Beach, Florida.
Trump’s fundraiser with a host of mega-donors follows President Joe Biden’s star-studded event on March 28 in New York that his campaign said brought in more than $26 million.
Saturday’s Trump fundraiser, hosted at billionaire hedge fund manager John Paulson’s home, will allocate a portion of the money to be raised to a fundraising group that has spent tens of millions of dollars on Trump’s legal fees.
“After locking up the nomination in one of the fastest primaries in modern political history, Donald J. Trump is winning poll after poll and proving that the enthusiasm is on his side. It’s clearer than ever that we have the message, the operation, and the money to propel President Trump to victory on November 5,” Trump campaign advisors Chris LaCivita and Susie Wiles said in a statement.
Republican presidential candidate and former US President Donald Trump (R) and former first lady Melania Trump (2nd-R) arrive at the home of John (L) and Jenny Paulson (2nd-L) on April 6, 2024 in Palm Beach,… Republican presidential candidate and former US President Donald Trump (R) and former first lady Melania Trump (2nd-R) arrive at the home of John (L) and Jenny Paulson (2nd-L) on April 6, 2024 in Palm Beach, Florida. Trump’s campaign announced it raised $50.5 million as major donors gathered for a fundraiser billed as the “Inaugural Leadership Dinner.”
AFP/Getty Images
The Context
Before the closed-door event, Trump briefly spoke to reporters and posed for photos with his wife, Melania Trump, along with Paulson and his wife, Jenny.
“This has been some incredible evening before it even starts because people, they want to contribute to a cause of making America great again,” Trump said.
Biden raised nearly $127 million to compete against Trump by the end of February, with about $71 million cash on hand, according to Federal Election Commission (FEC) data. Last week, he raised an additional $25 million at a New York City fundraiser. Trump had raised only about $99 million in the period, with about $33.5 million in cash on hand, according to FEC data.
Trump’s fundraising deficit comes as both candidates have secured enough delegates in their respective primaries to secure their party’s presidential nominations, setting up a likely rematch of 2020.
What We Know
According to Reuters, co-hosts on Saturday included hedge-fund investor Robert Mercer and his daughter and conservative activist Rebekah, investor Scott Bessent, along with casino mogul Phil Ruffin.
Trump, who clinched the Republican presidential nomination last month, can now raise money with the RNC ahead of the Nov. 5 election. Trump’s daughter-in-law, Lara Trump, is a co-chair of the RNC.
The Trump 47 Committee, a new fundraising tie-up with the Republican National Committee, will direct funds to the Save America leadership group before anything goes to the RNC, according to Reuters, which reportedly viewed the invitation.
The Trump 47 Committee asked top donors to contribute up to $814,600 per person. The first $6,600 of any person’s contribution will go to Trump’s presidential campaign, according to Reuters. A maximum of $5,000 per person would then be allocated to Save America. After Save America gets its share, the RNC will reportedly get a cut of up to $413,000.
This is a developing story and will be updated with more information.
Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
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