Trump allies to raise $33 million at Florida fundraiser, seeking to narrow gap with Biden

Former President Donald Trump and his Republican cohorts are endeavoring to bridge the financial chasm with President Biden by organizing a fundraiser in Florida, with hopes of collecting over $33 million. This effort aims to surpass the notable $26 million raised by Mr. Biden during a recent event in New York.

Scheduled for April 6 in Palm Beach, Florida, the fundraiser will channel contributions to the Trump campaign, Save America PAC (which covers a significant portion of Trump’s legal expenses), and subsequently to the Republican National Committee (RNC) and local state parties. The fundraising details were disclosed in an invitation obtained by CBS News, with initial reporting by the Financial Times.

While the Biden campaign has showcased formidable fundraising prowess, including a high-profile event in Manhattan featuring former Presidents Bill Clinton and Barack Obama, Trump’s reelection campaign commenced March with $71 million in cash, significantly bolstering its financial resources. In contrast, Trump’s fundraising apparatus, including the RNC and supportive PACs, began the month with just over $74 million in hand.

Although the Trump campaign concedes it may not match Biden and the Democrats in fundraising totals, it has reported robust daily contributions exceeding $1 million over the past six days, with online small-dollar donations exceeding $10.6 million last week alone. Concrete March fundraising figures for both parties will be disclosed next month with the release of updated federal campaign finance reports.

Attendees of the upcoming Florida fundraiser have been solicited to contribute between $250,000 and $814,000 per person. The allocation structure stipulates a portion for the Trump campaign, Save America PAC, and subsequently, the RNC and state parties. Notably, the mechanism by which the Trump 47 Committee funnels contributions to Save America PAC represents a departure from conventional fundraising practices, potentially aiding in covering Trump’s burgeoning legal expenses, which have already surpassed $10 million this year.

John Paulson, a prominent hedge fund billionaire hosting the event, expressed enthusiasm for the overwhelming donor response, noting that contributions have already exceeded $33 million. The invite boasts a notable roster of co-chairs, including business magnates and former government officials.