The campaign team for 45th President Trump recently announced a record-breaking fundraising achievement, having gathered over $50 million during a GOP event on Saturday night in Palm Beach, Florida. This figure sets a new precedent for fundraising efforts by both Republican and Democratic candidates.
Danielle Alvarez, a spokesperson for Trump’s campaign, highlighted the significance of this achievement by stating, “It took three Democrat presidents to raise $25 million and one president to raise over $50 million, Donald J. Trump.”
The fundraiser was hosted at the residence of John Paulson, a billionaire hedge fund founder, in Palm Beach. The event attracted a notable guest list, including prominent figures such as casino tycoon Steve Wynn, Robert Bigelow of Bigelow Aerospace, and former U.S. Commerce Secretary Wilbur Ross.
Paulson expressed his enthusiasm for the fundraising success, saying, “The response to our fundraising efforts has been overwhelming, and we’ve raised over $43 million so far. There is massive support amongst a broad spectrum of donors.”
President Trump, accompanied by his wife Melania, shared his excitement with reporters upon arrival, remarking, “this has been some incredible evening before it even starts because people – they wanted to contribute to a cause of making America great again, and that’s what’s happened.”
Despite the impressive haul from the fundraiser, Trump’s campaign still faces a financial disparity when compared to the funds available to President Biden, who reportedly has around $192 million on hand, compared to Trump’s $93 million.
In a similar fundraising endeavor, President Biden’s campaign reported raising over $26 million during an event at New York City’s Radio City Music Hall, featuring former Presidents Obama and Clinton, which was described as “historic” by the campaign.
Trump’s “Inaugural Leadership Dinner” underscores a revitalization in fundraising efforts for the former president and the Republican Party. After an initial challenge in attracting significant donations, Trump’s continued successes in the primaries have garnered increased support from the GOP and its donors.
The proceeds from the event will benefit the Trump 47 Committee, a joint fundraising venture involving the Republican National Committee, state Republican parties, and Save America, a PAC supporting Trump’s legal expenses. The fundraising structure prioritizes contributions to Trump’s campaign and Save America before allocating funds to the RNC or state parties.
Guests at the event had the opportunity to contribute at various levels, with “chairman” contributors donating $814,600 for a seat at Trump’s table and “host committee” contributors offering $250,000. Both contribution levels included a photo opportunity and a personalized copy of Trump’s photo book, “Our Journey Together.”
The event also saw the participation of three of Trump’s former GOP nomination rivals—Sen. Tim Scott, Gov. Doug Burgum, and Vivek Ramaswamy—as special guests.