Donald Trump is having dinner with billionaires on Saturday evening, seeking their support for his campaign as well as financial assistance to cover his legal expenses.
According to the Associated Press, the Palm Beach fundraiser and gala organized by Trump’s campaign raised a staggering $50 million in donations.
The amount raised during President Joe Biden’s glitzy Democratic fundraiser in New York on March 28 was nearly doubled by Trump. According to the AP, the Biden fundraiser set a record for single-event fundraising, a fact that Trump himself highlighted on Truth Social Saturday.
“Get ready for the most monumental fundraising event ever! This event will surpass Biden’s numbers from last week at Radio City. The people are yearning for change. They are determined to make America great again!” Trump exclaimed on Truth Social in anticipation of the forthcoming event, known as Trump’s “Inaugural Leadership Dinner.”
Biden’s campaign made an announcement on Saturday, revealing that they were able to generate $90 million in funds during the month of March. As a result, their current cash reserve now stands at an impressive $192 million. On the other hand, the Trump campaign is determined to close the gap, having raised $65.6 million in March and currently holding $93.1 million in available funds.
According to a source familiar with the Trump campaign, who spoke to the Washington Post anonymously, Trump has been dedicated to obtaining donations. As reported by CNN, attendees of the gala contributed anywhere from $250,000 to $824,600 per person.
According to a source familiar with Biden’s fundraising efforts, they expressed their belief that Trump’s strategy of getting everyone to contribute the maximum amount in April is not sustainable.
According to the individual interviewed by Axios, following this approach could potentially lead to financial struggles during crucial months.
On Saturday, Trump made a grand entrance at the gala, accompanied by his wife, Melania. Although she had been noticeably absent from his campaign in the past year, Melania is now anticipated to assume a more prominent role.
The photograph was taken by Lynne Sladky for the Associated Press.
The Palm Beach fundraiser, held at hedge fund billionaire John Paulson’s mansion, could provide financial support for the former president’s campaign and help cover his growing legal expenses. These expenses include millions of dollars in payments to firms representing him in four criminal cases.
The funds raised from the event will be directed to the Save America leadership political action committee (PAC), as reported by CNN. This PAC, along with another, has been supporting Trump’s legal endeavors.
The Trump and Biden campaigns have not yet responded to a request for comment from Business Insider, despite it being sent outside of regular business hours.
