Donald Trump's campaign said it raised a single-event fundraising record with a $50.5 million haul Saturday in Palm Beach, Florida.
Trump's fundraiser - with a host of mega-donors - follows President Joe Biden's star-studded event on March 28 in New York that his campaign said brought in more than $26 million.
Saturday's Trump fundraiser was hosted at the home of billionaire hedge fund manager John Paulson and his fiancé, Alina de Almeida. A portion of the money raised will be allocated to a fundraising group that has spent tens of millions of dollars on Trump's legal fees.
"After locking up the nomination in one of the fastest primaries in modern political history, Donald J. Trump is winning poll after poll and proving that the enthusiasm is on his side. It's clearer than ever that we have the message, the operation, and the money to propel President Trump to victory on November 5," Trump campaign advisors Chris LaCivita and Susie Wiles said in a statement.
Newsweek reached out to the Biden campaign via email Saturday night for comment. This story will be updated with any provided statements.
The Context
Before the closed-door event, Trump briefly spoke to reporters and posed for photos with his wife, Melania Trump, along with Paulson and his fiance, Alina de Almeida.
"This has been some incredible evening before it even starts because people, they want to contribute to a cause of making America great again," Trump said.
According to the Associated Press, Biden's reelection campaign and the Democratic National Committee said Saturday that they raised more than $90 million in March and ended the year's first quarter with $192 million-plus in cash on hand.
The Biden campaign raised $26 million-plus March 28 at Radio City Music Hall in Manhattan in an event that featured former Presidents Barack Obama and Bill Clinton.
The Biden campaign and its affiliated entities reported $187 million from January through March and said that 96% of all donations were less than $200. In addition, Biden's team has reportedly opened 100 new campaign offices.
Trump and the Republican National Committee reported raising $65.5 million in March and having $93.1 million on hand, the Associated Press reported.
Trump's fundraising deficit comes as both candidates have secured enough delegates in their respective primaries to secure their party's presidential nominations.
What We Know
According to Reuters, co-hosts on Saturday included hedge-fund investor Robert Mercer and his daughter and conservative activist Rebekah, investor Scott Bessent, along with casino mogul Phil Ruffin.
Trump can now raise money with the RNC ahead of the Nov. 5 election. Trump's daughter-in-law, Lara Trump, is a co-chair of the RNC.
The Trump 47 Committee, a new fundraising pact with the RNC, will direct funds to the Save America PAC before anything goes to the RNC, according to Reuters, which reportedly viewed the invitation.
The Trump 47 Committee asked top donors to contribute up to $814,600 per person. The first $6,600 of any person's contribution will go to Trump's presidential campaign, according to Reuters. A maximum of $5,000 per person would then be allocated to Save America. After Save America gets its share, the RNC will reportedly get a cut of up to $413,000.
Views
Jaime Harrison, the chairman of the Democratic National Committee, released a statement earlier Saturday regarding Trump's fundraiser.
"While Donald Trump has been busy awarding himself golf trophies at Mar-a-Lago and palling around with billionaires, Joe Biden has been crisscrossing the nation connecting with voters and outlining his vision to grow our economy from the bottom up and the middle out," Harrison said, referring to Trump's Florida residence.
RNC co-chairs Michael Whatley and Lara Trump said Saturday's record haul displays GOP unity.
"The Republican Party is united behind the effort to elect President Donald J. Trump, and Americans are lining up to join our movement and retire Crooked Joe Biden once and for all," the co-chairs said in a statement.
What's Next?
Trump's New York criminal trial is scheduled to begin on April 15, despite repeated attempts to delay the proceedings. Final trial dates for his three other criminal cases are less clear, while the ex-president is also working on appeals to over $500 million in recent civil judgments.
He claims that all of his legal troubles are part of a political "witch hunt."
Update: 04/16/24, 8:47 a.m.: This story was updated with more information.
Update: 04/07/24, 8:43 a.m.: This story was updated to correct the photo caption.
This is a developing story and will be updated with more information.
Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
About the writer
Gabe Whisnant is Deputy Weekend Editor at Newsweek based in South Carolina. Prior to joining Newsweek in 2023, he directed ... Read more
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