Former President Trump’s campaign team is now predicting that Saturday evening’s fundraiser in Palm Beach, Florida, will rake in an estimated $50 million, smashing records for a Republican or Democratic candidate.
“It took three Democrat presidents to raise $25 million and one president to raise over $50 million, Donald J. Trump,” campaign spokesperson Danielle Alvarez boasted.
Saturday’s fundraiser is taking place at a private home in Palm Beach, hosted by billionaire and hedge fund founder John Paulson. Among the 100 or so guests will be heavy-hitters like casino mogul Steve Wynn, Bigelow Aerospace Founder and President Robert Bigelow, and former U.S. Commerce Secretary Wilbur Ross.
Republican presidential candidate and former President Donald Trump speaks during an awards ceremony held at the Trump International Golf Club last month in West Palm Beach, Fla. (Joe Raedle/Getty Images)
“The response to our fundraising efforts has been overwhelming, and we’ve raised over $43 million so far,” Paulson said in a statement. “There is massive support amongst a broad spectrum of donors.”
Though the fundraiser is expected to take in tens of millions, Trump still needs to close the gap with his Democratic rival, incumbent President Biden, who is reported to have around $192 million on hand compared with just over $93 million for Trump.
Biden’s campaign said he raised more than $26 million during a fundraising appearance late last month at New York City’s famed Radio City Music Hall with former Presidents Barack Obama and Bill Clinton.
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The president’s re-election campaign called the money raised at the star-studded event — which set a record for a single fundraiser — “historic.”
Trump’s event, billed as the “Inaugural Leadership Dinner,” sends a signal of a resurgence for the former president and Republican Party fundraising.
Trump initially struggled to attract big donors when he launched his campaign and some lined up to support the other Republicans who challenged him in the presidential primary. But as Trump racked up easy wins, leveled the field and became the party’s presumptive nominee, the GOP has solidified behind him.
Laura Trump speaks at the NCGOP state convention with former President Donald Trump. (Melissa Sue Gerrits/Getty Images)
Contributions to the event will go toward the Trump 47 Committee, according to the invitation, a joint fundraising agreement with the Republican National Committee, state Republican parties and Save America, a political action committee that pays the bulk of Trump’s legal bills.
In an unusual arrangement, the fundraising agreement directs donations to first pay the maximum allowed under law to his campaign and Save America before the RNC or state parties get a cut.
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Guests are asked to contribute $814,600 per person as a “chairman” contributor, which comes with seating at Trump’s table, or $250,000 per person as a “host committee” contributor.
Both options come with a photo opportunity and a personalized copy of Trump’s coffee table book featuring photographs from his administration, “Our Journey Together.”
Three of Trump’s former rivals for the GOP nomination — South Carolina Sen. Tim Scott, North Dakota Gov. Doug Burgum and biotech entrepreneur Vivek Ramaswamy — are expected to appear as “special guests.”
The Associated Press contributed to this report.
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