Trump’s Record-Breaking Fundraiser Nets $50 Million for 2024 US Presidential elections”

President Donald Trump

$50.5 million in support has been added to Republican presidential challenger Donald Trump’s campaign as the former president gets ready for a rematch with rival current President Joe Biden.

The gathering, which is his largest fundraiser to date, is a much-needed lift for Trump, who has been regularly outdone financially by Biden and is currently experiencing financial hardship as a result of skyrocketing legal bills and settlements from his criminal and civil litigation.

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 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.

“All that people desire is change. Before the fundraiser, Trump made remarks, “Rich people want it, poor people want it.” He was joined by his wife Melania Trump, who has so far mostly avoided the campaign trail.
On the social media platform X, Biden spokesperson Ammar Moussa said that tax preferences were the reason why millionaires had come to Trump’s event. “The ultra-wealthy are really mad at Joe Biden for making them pay their fair share,” he wrote.

Two sources claim that Trump has suggested Paulson as a possible Treasury secretary. According to one of those sources, Bessent has also been proposed for the position.
Paulson said in a statement on Saturday that there was “overwhelming support” for Trump at the event, which was anticipated to draw 100 attendees.
Trump addressed the economy and the southern border with Mexico during his about 45-minute speech, according to Reuters, who was also Trump’s ambassador to Portugal before becoming a fundraiser. “He also talked a lot about the unification of the party.”

The Republican candidate’s team emphasized that the amount raised was twice as much as what Biden brought in during an extravagant charity event including former Democratic presidents Bill Clinton and Barack Obama last month, raising nearly $25 million.
The figures won’t be verified until Federal Election Commission filings are received. Occasionally, campaigns inflate their fundraising totals in order to gain traction.
Last month, the Trump team announced that it would not be able to equal Biden’s fundraising totals for 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.
According to Republican strategist Ron Bonjean, “it will be important to figure out ways to continue this fundraising momentum for Trump with a combination of large/small dollar events.”

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).
With his daughter-in-law serving as co-chair of the Republican National Committee (RNC), Trump, who secured the Republican nominee for president last month, can now raise funds in advance of the election on November 5.
According to the invitation, there is a new fundraising partnership between the RNC and Trump called the Trump 47 Committee. Money from this partnership is first sent to Trump’s Save America leadership group.
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.

President Donald Trump