Donald Trump's fundraiser this Saturday in Florida is aiming to bring in more than $40 million to his campaign, made possible by couples being charged some $1.6 million collectively for admission.
The event comes a little over a week after President Joe Biden amassed approximately $26 million for his campaign at a fundraiser at New York City's Radio City Music Hall, lauded as the biggest political fundraiser ever and featuring former Democratic Presidents Bill Clinton and Barack Obama in attendance.
The event in Palm Beach will be hosted by hedge fund billionaire John Paulson and feature businesswoman Linda McMahon, casino magnate Steve Wynn, former Trump White House Secretary of Commerce Wilbur Ross, and Trump's former GOP primary rivals Senator Tim Scott, North Dakota Governor Doug Burgum and businessman and former presidential primaries candidate Vivek Ramaswamy, according to information obtained by Newsweek.
Each attendee must pay $814,600 and host committee members must fork over $250,000 per person.
Others expected in attendance include oil and gas businessman Harold Hamm, casino magnate Phil Ruffin, conservative mega-donors Robert and Rebekah Mercer, sugar tycoon Pepe Fanjul, and Key Square Group founder Scott Bessent.
"The response to our fundraising efforts has been overwhelming, and we've raised over $33 million so far," Paulson told the Financial Times on Wednesday. "There is massive support amongst a broad spectrum of donors. The dinner is relatively small in nature, and we are almost at our cap."
The event is on track to surpass $43 million, according to Axios, which would exceed Biden's historic fundraiser by nearly $20 million.
"Can confirm we expect to raise $43 million," a Trump campaign spokesperson told Newsweek on Thursday.
Newsweek reached out to the Biden campaign via phone for comment.
Money has reportedly come from Trump personally calling donors, notably billionaires, and encouraging polling numbers facilitating support.
That financial haul for the Biden camp in one evening eclipsed the $20 million raised by the Trump campaign throughout February.
It also comes as the incumbent president and the Democratic National Committee (DNC) are nearly doubling their Republican rivals, with the DNC boasting some $97.5 million in cash compared to the $44.8 million for the Republican National Committee (RNC).
Trump has also held fewer rallies this current campaign compared to his 2016 and 2020 election bids, drawing mockery from the Biden campaign.
"We are two weeks into the general election and Donald Trump can't raise money, is hiding at his country club, and is letting convicts and conspiracy theorists take over his campaign," Biden campaign spokesperson Ammar Moussa told the Associated Press late last month. "That is not a winning strategy."
Paulson is reportedly high up in the running to become the next U.S. Treasury Secretary should Trump be victorious this November, according to Bloomberg, which cited unnamed people familiar with Trump's thinking.
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Nick Mordowanec is a Newsweek reporter based in Michigan. His focus is reporting on Ukraine and Russia, along with social ... Read more
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