WASHINGTON – Former President Donald Trump is expected to raise $43 million or more at a fundraiser for his 2024 presidential campaign in Florida on Saturday evening, a much-needed surge in funds as the four-times indicted ex-president faces mounting legal expenses.
The event, hosted at the Palm Beach home of billionaire hedge fund manager John Paulson, is anticipated to be Trump’s biggest fundraiser yet. It comes as the presumptive Republican presidential nominee attempts to narrow President Joe Biden’s double-digit fundraising lead in the 2024 general election race.
Democrats reportedly have $192 million on hand, compared to Republican’s $93.1 million.
A portion of the money raised at Trump’s Palm Beach event will go to a fundraising group that has spent tens of millions of dollars on Trump’s legal fees.
Since clinching the delegates needed for the GOP nomination last month, Trump has the financial backing of the Republican National Committee.
The Trump 47 Committee, a new fundraising tie-up with the RNC, directs funds to the Save America leadership group before anything goes to the RNC, the invitation shows.
The Trump 47 Committee is asking top donors to contribute up to $814,600 per person. The first $6,600 of any person’s contribution would go to Trump’s presidential campaign, according to the invitation.
A maximum of $5,000 per person would then be allocated to Save America. After Save America gets its share, the RNC would get a cut of up to $413,000. In the cases of the biggest contributions, a raft of Republican state parties would get funds too.
Co-hosts on Saturday include hedge-fund investor Robert Mercer and his daughter and conservative activist Rebekah, investor Scott Bessent, and casino mogul Phil Ruffin, according to reporting from Reuters.
Despite the fundraising surge, however, Trump’s campaign said last month that it will not be able to match Biden’s totals this year.
Contributing: Alexandra Ulmer, Reuters; Francesca Chambers, USA TODAY
This article originally appeared on USA TODAY: Trump expected to raise $43 million at Palm Beach fundraiser
