Donald Trump says biggest fundraiser to date raises $50 million

Republican presidential candidate Donald Trump’s campaign said a massive fundraiser in Florida on Saturday raised a whopping $50.5 million as the former president attempts to gain ground in his campaign against Democratic President Joe Biden. Replenish the reduced funds in the rematch.

The event was Trump’s largest fundraiser to date and a much-needed boost for Trump, who has regularly been surpassed in fundraising by Biden and has struggled with legal fees and criminal and civil courts. Legal expenses from the case are mounting and Trump is under financial strain.

The dinner, held at the Palm Beach home of billionaire hedge fund manager John Paulson, will allocate some of the money raised to a fundraising group that has spent tens of millions of dollars on Trump’s legal cost.

While Trump has struggled to win over some major traditional Republican donors, he has retained the support of some heavyweights. For example, Saturday’s co-hosts include hedge fund investor Robert Mercer and his daughter, conservative activist Rebecca, investor Scott Bessant, according to a fundraising invitation seen by Reuters and casino tycoon Phil Ruffin.

“People just want change. Rich people want it, poor people want it,” Trump said in comments before the fundraiser, flanked by his wife Melania Trump, who has so far So far, he has basically not participated in the campaign.

Biden spokesman Amal Moussa said on social media site X that billionaires are flocking to Trump events because of tax incentives. “The super rich are really angry that Joe Biden is making them pay their fair share,” he posted.

Paulson has been nominated by Trump as a potential Treasury secretary, according to two sources. Bessant has also been nominated for the position, one of the sources said.

Paulson said in a statement on Saturday that the dinner, which was expected to be attended by 100 guests, was met with “overwhelming support” and was a sign of enthusiasm for Trump.

Trump’s speech lasted about 45 minutes and touched on the economy and the southern border with Mexico, George Glass, Trump’s former ambassador to Portugal and a fundraiser, told Reuters. “He also talked a lot about the unity of the party.”

The Republican candidate’s campaign highlighted the amount as double the more than $25 million Biden raised during a star-studded fundraiser last month with Democratic former Presidents Bill Clinton and Barack Obama .

The numbers will not be confirmed until documents are filed with the Federal Election Commission. Campaigns sometimes inflate fundraising numbers to boost momentum.

Trump’s campaign said last month it would not be able to match Biden’s fundraising totals this year. His campaign and joint fundraising committees raised a total of $20.3 million in February, while Biden’s reelection efforts raised more than $53 million that month.

Republican strategist Ron Bonjean said that for Trump, “it’s important to figure out ways to continue this fundraising momentum through a combination of big/small dollar events.”

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However, more money is not always a sign of success. In 2016, Trump defeated Democratic candidate Hillary Clinton, who raised $769.9 million, far more than the $433.4 million he raised.

Trump, who secured the Republican presidential nomination last month, can now raise money ahead of the Nov. 5 election from the Republican National Committee (RNC), of which his daughter-in-law is co-chair.

The Trump 47 Committee is a new fundraising arm formed in partnership with the Republican National Committee (RNC) to allocate funds to Trump’s rescue before any money flows to the RNC, according to the invitation. Save America Leadership Team.

The Trump 47 committee is asking top donors to give up to $814,600 each. According to the invitation, the first $6,600 anyone donates will go to Trump’s presidential campaign.

Each person can donate up to $5,000 to Save America. After Save America gets its share, the RNC will receive a cut of up to $413,000. With the largest donations, many Republican state parties will also receive funds.