Donald Trump rakes in $76m at donor dinner

Donald Trump’s campaign said it had taken more than $US50m ($76m) at a single fundraising event on Saturday in Florida.

Donald and Melania Trump arrive at the Florida home of billionaire investor John Paulson on Saturday. Picture: Getty Images

Donald Trump’s campaign said it had taken more than $US50m ($76m) at a single fundraising event on Saturday in Florida – the latest salvo in a swaggering, high-stakes battle for big money with Joe Biden.

While spending huge sums of money on campaigning may not be something to brag about in some countries, it’s often a source of pride for US political candidates.

And this year, raising big bucks is as important as ever, with the November 5 presidential election expected to be the most expensive electoral cycle in US history.

The Republican former president and the Democratic incumbent have been working for months to outraise each other, boasting about each new significant cash infusion.

Mr Biden, 81, raised the stakes last week when he headlined a huge event in New York with former presidents Barack Obama and Bill Clinton at his side, raking in at least $US25m.

But the Trump campaign said he doubled that figure at Saturday’s event at the Palm Beach home of billionaire hedge fund manager John Paulson.

In a joint statement with the Republican National Committee, team Trump said the event raised more than $US50.5m, calling Mr Biden’s event last week in New York “desperate” in comparison.

As he entered the venue with wife Melania at his side, Mr Trump said: “This has been some incredible evening before it even starts, because people – they wanted to contribute to a cause of making America great again. And that’s what’s happened.”

Mr Paulson said his sold-out event raised the most in a single political fundraiser. “This overwhelming support demonstrates the enthusiasm for President Trump and his policies,” he said.

The Palm Beach guest list ­included businessman Robert ­Bigelow, who made a fortune in the hotel industry before launching an aerospace research company, and John Catsimatidis, owner of a major grocery store chain. Both are major Republican donors.

Some of Mr Trump’s former Republican rivals were also on the list, including senator Tim Scott, tech entrepreneur Vivek Ramaswamy and North Dakota Governor Doug Burgum.

After suspending their presidential campaigns, the trio have fully endorsed Mr Trump, perhaps angling for a job in his ­administration if he succeeds in returning to the White House.

According to The Washington Post, a seat at Mr Trump’s table cost $US814,600. Such astronomical sums are used to finance candidates’ travel, pay their aides, commission opinion polls and – costliest of all – buy television ads.

Mr Biden, who portrays himself as a product and champion of the middle class, was quick to criticise Mr Trump’s fundraiser.

“While Trump is raising money from a bunch of hedge fund billionaires, our grassroots campaign raised $187m this quarter because of folks like you,” he said Saturday on X.

Mr Biden’s campaign war chest is bigger than Mr Trump’s, as the former president faces mounting legal fees stemming from multiple criminal indictments.

Mr Biden’s campaign was all too happy to point that out, referring to Mr Trump as “Broke Don” in a recent statement about the billionaire, who is known for using mean nicknames.

AFP