Republican presidential candidate Donald Trump's big fundraiser in Florida on Saturday is expected to raise more than $43 million as he looks to replenish coffers decimated by his rematch with Democrat Joe Biden. It is expected.
The event, slated to be the biggest fundraiser to date, was much-needed by Trump, who is routinely criticized by Biden and is in the midst of a financial crisis amid mounting legal fees and litigation costs. It's an opportunity.
The dinner was held at billionaire hedge fund manager John Paulson's Palm Beach home, with some of the money raised going to fundraisers that have spent tens of millions of dollars on Trump's legal costs. It will be done.
Mr. Trump has struggled to win over some of the traditional Republican big donors, but he has maintained the support of some bigwigs. Saturday's co-hosts, for example, include hedge fund investor Robert Mercer and his daughter, conservative activist Rebecca, investor Scott Bessent and casino mogul, according to a fundraiser invitation seen by Reuters. Includes Phil Ruffin.
Paulson has been floated by President Trump as a possible Treasury secretary candidate, two sources said. Bessent is also being considered for the role, one of the two people familiar with the matter said. Paulson did not immediately respond to a request for information about the incident.
Trump's campaign said last month that it would not be able to match Biden's fundraising totals this year. Biden's campaign, working with a community fundraising committee, raised more than $20.3 million in February, compared to more than $53 million raised by Biden's re-election campaign that month.
However, more money does not always indicate success. Trump won in 2016 by raising $769.9 million, far more than Democratic candidate Hillary Clinton's $433.4 million.
Trump, who secured the Republican presidential nomination last month, is now able to raise money with the Republican National Committee (RNC) ahead of the November 5 election.
The Trump 47 Committee, a new fundraising partnership with the RNC, will direct funds to the Save America Leadership Group before any money goes to the RNC, the invitation states.
The Trump 47 Committee is asking large donors to contribute up to $814,600 each. According to the invitation, everyone's first $6,600 will be donated to President Trump's campaign.
Up to $5,000 per person will then be allocated to Save America. If Save America's share is obtained, the RNC could receive up to $413,000. In the case of the largest donations, a number of Republican state parties would also receive funding.
With information from Reuters
