Former President Trump is aiming to break a brand-new fundraising record set by President Biden. The Trump campaign is hoping to bring in over $40 million at a fundraiser in Palm Beach, Florida, to catch up to Biden in the 2024 presidential race fundraising race. This surpasses the $26 million raised by Biden at a recent event in New York City with former Presidents Barack Obama and Bill Clinton. The event helped Biden increase his cash advantage over Trump as they prepare for a potential rematch of the 2020 election.
The fundraiser in Palm Beach is hosted by billionaire investor John Paulson and is the kickoff event for the Donald J. Trump National Committee. Major donors who sat out the 2020 campaign are expected to attend, including hedge fund billionaire Robert Mercer and oil magnate Harold Hamm. The event will offer dinner seating at President Trump’s table for donations ranging from $250,000 to over $800,000. The Biden campaign criticized the guest list, accusing Trump of catering to tax avoiders, scammers, racists, and extremists.
Former first lady Melania Trump and three of Trump’s former GOP primary opponents are listed as special guests at the fundraiser. This event marks the Republican donor class rallying around Trump as he secures the GOP nomination and becomes the presumptive presidential nominee. Despite previous tensions with some Republican donors, Trump has been hosting major contributors to improve relations and boost fundraising efforts in preparation for the 2024 election.
To address the fundraising deficit compared to Biden, the Trump campaign has set up a joint fundraising committee with the Republican National Committee (RNC). This allows coordination among themselves and with state GOP chapters nationwide. The committee was established after Trump took control of the RNC and installed allies in top leadership positions. The campaign is confident in their fundraising efforts, acknowledging they may not match Biden dollar-for-dollar but will have what they need to win the election.
Trump and the RNC raised $65.6 million in March, ending the month with $93.1 million in cash on hand. This impressive fundraising figure alleviates concerns within the GOP about falling behind Biden and the DNC in campaign contributions. The campaign remains optimistic about their future fundraising efforts and feels confident about the state of their campaign as the 2024 election season progresses. The Trump campaign aims to level the playing field with Biden as they gear up for a potential rematch in the presidential election.
