At least $43 million is anticipated to be raised at a significant event for Republican presidential contender Donald Trump on Saturday in Florida. The former president is hoping to top off his depleted bank account ahead of his rematch with Democrat Joe Biden.
Fundraiser Expected to be the largest of Trump till date
The fundraiser, which is expected to be Trump’s largest to date, is a much-needed chance for the politician, who has been consistently outdone financially by Biden and is currently experiencing financial strain as a result of skyrocketing legal bills and expenses.
A portion of the proceeds from the event, which is being held at the Palm Beach residence of billionaire hedge fund manager John Paulson, will go to a charity that has paid tens of millions of dollars for Trump’s legal bills.
Trump Still enjoys the backing of powerful Republicans
Trump still enjoys the backing of a few powerful Republicans, despite his difficulties in gaining the support of several significant traditional Republican funders. According to the event invitation seen by Reuters, co-hosts on Saturday will include investor Scott Bessent, casino billionaire Phil Ruffin, hedge-fund investor Robert Mercer and his daughter, conservative activist Rebekah, and investor Scott Bessent.
Two sources claim that Trump has mentioned Paulson as a possible Treasury Secretary. One of the two sources stated that Bessent has also been considered for the position.
An inquiry for information about the event was not immediately answered by Paulson.
The Trump team announced last month that it will not be able to raise as much money as Biden did this year. In February, his campaign and a joint fundraising committee raised $20.3 million, whereas Biden’s reelection campaign raised over $53 million in the same month.
But having more money does not automatically translate into success. In 2016, Trump defeated Democratic contender Hillary Clinton, who had raised significantly more money—$769.9 million—than he had ($433.4 million).
Trump Can raise funds thrugh RNC
After securing the Republican presidential nomination last month, Trump can now raise funds through the RNC in advance of the election on November 5.
According to the invitation, donations to the Save America leadership group are routed through the Trump 47 Committee, a new fundraising partnership with the Republican National Committee, before they are sent to the RNC.
Top contributors asked to pay $814,600 per person
Top contributors are being asked to pay up to $814,600 per person to the Trump 47 Committee. The invitation stated that the first $6,600 of each individual’s donation will benefit Trump’s presidential campaign.
Then, each individual would contribute a maximum of $5,000 to Save America. Following Save America’s allocation, the RNC might get up to $413,000. A wide range of Republican state parties would also receive funding in the situations of the largest contributions.
