Donald Trump’s White House campaign is planning a major South Florida fundraiser that aims to bring in $33 million and help close the money gap between himself and President Biden. The event, hosted by billionaire hedge fund manager John Paulson, is expected to be the largest fundraiser of its type in Republican National Committee history. Trump’s campaign is pushing to bring in more funds to compete against Biden, who has been boasting about their large cash flow compared to the former president.
The fight for funds between Biden and Trump has intensified after both secured enough delegates to win their party nominations at their respective conventions this summer. In February, Biden’s campaign raised $53 million compared to Trump’s relatively paltry $20 million. Biden’s campaign also reported having $155 million in cash on hand at the end of last month, significantly more than Trump’s $42 million. Despite the fundraising gap, Trump’s team remains confident that they will have enough money to run an effective and winning campaign, leveraging Trump’s influence in media to make up for financial shortcomings.
Despite ongoing legal troubles, Trump still has support from major donors, as evidenced by his Palm Beach event. The invitation lists 38 co-chairs, including prominent figures like Woody Johnson, Pepe Fanjul, Harold Hamm, Steve Wynn, Phil Ruffin, and Wilbur Ross. The digital online fundraising for Trump’s campaign is skyrocketing, with major donor investments climbing higher. The campaign’s fundraising efforts are making Democrats wary of Trump’s ability to raise sufficient funds to secure his reelection.
Trump’s campaign, along with the Republican National Committee and the super PAC Save America, have been experiencing increasing cash flow in recent weeks. The campaign has been bringing in $1 million each day from online donors and raised over $10.6 million in a week. Save America and the Trump 47 Joint Fundraising Committee are expected to surpass $32 million in digital fundraising in March alone. Additionally, the MAGA, Inc. super PAC is projected to have at least $30 million cash on hand at the end of March, demonstrating ongoing financial support for Trump’s reelection efforts.
The April 6 Palm Beach fundraiser for Trump will be a critical event to boost his campaign funds and mobilize support from major donors. Trump’s team is confident that they can overcome their fundraising challenges and match Biden’s financial resources through strategic assets and media presence. Despite not expecting to raise as much money as the Democrats, Trump’s campaign believes they have the necessary resources to run a successful campaign and secure Trump’s return to the White House. The competition for campaign funds between Biden and Trump is poised to continue as the election draws nearer, with both sides fiercely working to secure the financial backing needed for victory.
