Big money donors are starting to rally around former President Trump as he emerges as the presumptive nominee, aiming to close the fundraising gap with President Biden, who recently set a record for high-dollar fundraising. An “Inaugural Leadership Dinner” at Mar-a-Lago led by wealthy donors like John Paulson, Robert and Rebekah Mercer, Harold Hamm, Robert Bigelow, and Steve Wynn signifies the start of a major effort to cut into Biden’s lead in cash on hand. Notable figures like Todd Ricketts, Woody Johnson, Wilbur Ross, and more are expected to be involved in the event, which features a “Chairman Level” with seating at Trump’s table for $824,600.
As Trump works to catch up to Biden’s fundraising efforts, a fundraising luncheon in Georgia with former Republican senators David Perdue and Kelly Loeffler is set for April 10. High-profile donors such as Bernie Marcus, Tommy Bagwell, Don Leebern III, and Bill White are expected to attend. Additionally, a fundraiser in Orlando with attorney Dan Newlin will take place on the same day. The RNC Chairman Michael Whatley praised Trump for generating a strong fundraising base among Republicans, noting that the RNC and the Trump campaign are working together toward victory.
In March, Trump and the RNC brought in $65.6 million in fundraising and ended the month with $93.1 million in cash on hand, a figure that includes money raised by various committees. Despite trailing Biden in cash on hand, Trump leads in small dollar donors who contribute less than $200, according to a report in The New York Times. The event at Mar-a-Lago is expected to boost Trump’s fundraising efforts significantly and may help him surpass Biden’s record-breaking $26 million haul in a recent event featuring former Presidents Obama and Clinton.
The show of support for Trump among wealthy donors comes as he solidifies his position as the presumptive nominee for the Republican Party. Hedge-fund billionaire John Paulson, one of the event organizers, expressed the need for Republicans to unite behind Trump after his primary victory. With the RNC and Trump campaign working as one unified operation, the focus is on fundraising, strategic investments to increase voter turnout, and safeguarding the electoral process. Despite facing a cash disadvantage against Biden, Trump’s fundraising prowess and ability to rally small dollar donors demonstrate his strength heading into the general election campaign.
Overall, the fundraising landscape for both Trump and Biden is becoming increasingly competitive as the campaign season heats up. With high-profile events like the Inaugural Leadership Dinner at Mar-a-Lago and upcoming fundraisers in key states, the race for campaign funds is in full swing. Trump’s ability to attract big money donors and grassroots support gives him a foundation to launch a strong campaign against Biden, who has shown his own fundraising prowess. As the general election approaches, both candidates will need to continue building their financial resources to support their campaigns and reach voters across the country.
