In a show of support for former President Donald Trump, Republican billionaires are set to host a high-dollar fundraiser in April to boost his presidential campaign.
What Happened: Hedge fund founder John Paulson will host a fundraiser on April 6 in Palm Beach, Florida. The event is expected to draw some of the wealthiest donors of the Republican Party, reported CNN.
The fundraiser is seen as a sign of support from ultra-rich GOP figures who had previously remained neutral or supported other candidates during the primary season. Now, they are rallying behind Trump as he becomes the party’s presumptive nominee and seeks to catch up with President Joe Biden and the Democrats in the funding race.
“I am pleased to support President Trump in his re-election efforts,” Paulson stated. He added that the campaign is receiving “an overwhelming amount of support from donors.”
The co-chairs of the “Inaugural Leadership Dinner” include hedge fund billionaire Robert Mercer, oil tycoon Harold Hamm, hotelier and space entrepreneur Robert Bigelow, and casino mogul Steve Wynn. Other co-chairs include Todd Ricketts, whose family owns the Chicago Cubs, and longtime Trump allies such as Robert Wood Johnson, co-owner of the New York Jets.
The fundraiser is one of the first major events since Trump became the party’s presumptive nominee. It aims to help him quickly raise large sums to close the fundraising gap with Biden and the Democrats.
Contributions from the April fundraiser will benefit the Trump 47 Committee, the joint fundraising operation established by the Trump campaign, the RNC, and nearly 40 state party committees.
Why It Matters: Trump’s campaign has been in a frenzied rush to raise funds to compete with Biden’s significant war chest. Despite legal troubles, Trump’s 2024 campaign funding doubled to $35M in the second quarter of 2023.
Supporters have also rallied to pay Trump’s legal bills through a GoFundMe campaign.
Photo Courtesy: Evan El-Amin On Shutterstock.com
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