US$50 million raised in Trump fundraiser

Republican presidential candidate Donald Trump’s campaign said a major fundraiser in Florida on Saturday raked in a massive US$50.5 million (RM239.7 million) as the former president seeks to replenish diminished coffers in his rematch against Democrat Joe Biden.

The event, his biggest fundraiser yet, is a much-needed boost for Trump, who has been routinely outraised by Biden and is in a financial squeeze due to lawyer fees and legal payouts from his criminal and civil court cases.

The dinner, hosted at billionaire hedge fund manager John Paulson’s Palm Beach home, will allocate a portion of the money to be raised to a fundraising group that has spent tens of millions of dollars on Trump’s legal fees.

While Trump has struggled to get some major traditional Republican donors on board, he retains the support of some heavy hitters. Co-hosts on Saturday, for example, include hedge-fund investor Robert Mercer and his daughter and conservative activist Rebekah, investor Scott Bessent, and casino mogul Phil Ruffin, according to the fundraiser invitation.

“People are just wanting change. Rich people want it, poor people want it,” said Trump in comments ahead of the fundraiser, flanked by his wife Melania Trump.

Biden spokesperson Ammar Moussa said on X that billionaires had flocked to Trump’s event due to tax preferences. “The ultrawealthy are really mad at Joe Biden for making them pay their fair share,” he posted.

Paulson has been floated by Trump as a potential Treasury secretary, according to two sources. Bessent has also been floated for the role, one of those sources said.

Paulson said the “overwhelming support” at the dinner, which 100 guests were expected to attend, was a sign of enthusiasm for Trump.

Trump’s camp stressed the haul was double what Biden raised last month in an over US$25 million star-studded fundraiser with former presidents Bill Clinton and Barack Obama.

The numbers will not be confirmed until filings are submitted to the Federal Election Commission. Campaigns sometimes exaggerate fundraising hauls to drive momentum.

Trump’s campaign said last month that it would be unable to match Biden’s fundraising totals this year. His campaign, together with a joint fundraising committee, pulled in US$20.3 million in February, compared with the more than US$53 million raised by Biden’s reelection effort that month. – Reuters