President Trump and the Republican Party officially launched their efforts to attract major donors with a fundraiser in Palm Beach, Florida, on Saturday. The event, attended by numerous business tycoons, sports team owners, and former Trump Administration officials, raised an astounding $50 million for President Trump’s re-election campaign, according to organizers.
Dubbed the “Inaugural Leadership Dinner,” the event at Mar-A-Lago was chaired by billionaire hedge fund manager John Paulson. Co-chairs included hedge fund magnate Robert Mercer and his daughter Rebekah, oil executive Harold Hamm, hotelier Robert Bigelow, and casino mogul Steve Wynn.
The fundraiser, graced by former First Lady Melania Trump, reportedly raked in a total of $50 million. This figure surpasses the amount raised at Joe Biden’s recent event in New York City, co-headlined by former presidents Bill Clinton and Barack Obama, which garnered only around $26 million. The left’s allies in the mainstream media hailed Biden’s event as a record-setting achievement.
Watch:
History was made last night in Palm Beach and history WILL be made on November 5th when @realDonaldTrump becomes our 47th President. pic.twitter.com/mYk1rCykIG
— Byron Donalds (@ByronDonalds) April 7, 2024
Trump campaign spokesperson Danielle Alvarez highlighted the fundraising success, stating, “It took three Democrat presidents to raise $25 million and one president to raise over $50 million, Donald J. Trump.”
The Trump campaign and the Republican Party have celebrated the event as the start of a major fundraising effort, seeking to match the Democrats’ fundraising efforts. April’s fundraising data reveals that Trump and the RNC began the month with approximately $100 million in campaign funds, significantly less than the $190 million raised by the Biden campaign.
Maintaining momentum with major donors will likely play a crucial role in narrowing the financial disparity, as President Trump has consistently surpassed his opponent in terms of small-dollar donations.
FEC records indicate that 35 percent of Joe Biden’s re-election campaign donations for 2024 have originated from significant donors, defined as contributions exceeding $2,000. In contrast, only 38 percent of the president’s current campaign contributions have been sourced from small donors, valued between $1 and $200.
For the Trump campaign, 61 percent of campaign funds have originated from small donors, with only nine percent coming from significant donors. Between 2020 and 2024, Joe Biden’s overall donations from significant donors have risen by 10 percentage points, while President Trump’s figures have declined by the same margin.
